The dedication of Ripple to NFT developers constructing on the XRP Ledger is unwavering.
The $250 million Creator Fund from Ripple, which is intended to support the creation of NFT-related initiatives on the XRP Ledger, has announced the second round of beneficiaries who have been chosen to participate.
The metaverse platform 9LEVEL9, which will offer virtual event tickets as NFTs, the Japanese NFT marketplace Anifie, the NFT sports platform Capital Block, the XRP NFT marketplace NFT Master, the NFT IP firm SYFR Projects.
In an interview with Decrypt, Boris Alergant, Head of DeFi Markets at Ripple, stated that the fund’s goal was to hasten the NFT economy of XRP. The fund’s initial wave of members was announced in April.
NFTs are distinctive blockchain tokens that represent ownership and may be linked to a variety of other assets, including event tickets, digital artwork, and tangible goods. According to Dune Analytics, OpenSea, the top NFT marketplace, saw slightly under $350 million in total volume transacted on Ethereum in September, which continues to be the most popular blockchain for NFTs today.
The XRP Ledger (XRPL) is a decentralized, open blockchain that is managed by a large, international development community. It is made to be quick, efficient with energy, and trustworthy.
According to Sean O’Leary, the creator of SYFR Projects, “it is up to teams like SYFR Projects that are right in the middle of the music business to innovate exploiting the potential of the XRPL.”
Alergant said that members of the XRP Ledger Foundation, Ripple, and an unnamed community organization evaluated and cast votes on each of the Creator Fund proposals submitted by Ripple.
Some people might be surprised to learn that Ripple is continuing to allocate the entire $250 million despite the current bear market, in which NFT volume has fallen to a mere fraction of what it was in the first and second quarters of this year.
“I have witnessed bear markets. Ripple has had several bear markets, as you may be aware, Alergant remarked.
He noted that during downturn markets, “the creativity really comes out when people sit down and construct and these amazing new use cases and great things come out.”
