Ripple launches 250 million USD fund or NFTs
Ripple, a San Francisco, CA-based provider of enterprise blockchain and crypto solutions, launched a $250m Ripple NFT fund to provide creators with the financial, creative and technical support needed to explore and craft premium non-fungible token (NFT) and other tokenization projects on the XRP Ledger.
The fund aims to support creators who face barriers to enter the market, including the fear their NFTs won’t sell and a lack of understanding when it comes to navigating NFT concepts. Developers, meanwhile, are often burdened with high transaction fees and clunky user experiences on marketplaces or platforms.
Ripple is teaming up with innovative NFT marketplaces and creative agencies who recognize the potential of these tokenized assets and, as part of the launch, will have first access to the fund. Together, Ripple’s Creator Fund and its partners are accelerating the evolution of NFTs while eliminating the pain points associated with crafting compelling projects:
Mintable, mintNFT and VSA Partners are the first partner to join the program to support creators building NFT projects on the XRP Ledger.
According to a written note, minting NFTs on the XRP Ledger will enrich the experience for creators seeking new ways of monetizing their works. For developers, the XRP Ledger’s innate performance advantages—speed, low cost and built-in royalties—make it ideally suited to drive NFT utility at scale, and without the need for Layer-2 protocols. Library support is also available to simplify NFT integrations and bypass direct XRPL development.
The XRP Ledger is a decentralized, open-source blockchain. Its built-in decentralized exchange (DEX) provides fast settlement for tokenized assets of all types–including NFTs—while its Federated Consensus mechanism eliminates gas fees.
Launched in 2018, Mintable is a next-generation non-fungible token (NFT) marketplace built on the blockchain backed by Mark Cuban, Sound Ventures, a venture capital firm founded by Ashton Kutcher and Guy Oseary, and TIME Ventures, the investment fund for Marc Benioff.
mintNFT is a premium member-based marketplace for non-fungible tokens (NFT) focused on bridging fan experiences with licensed content, brands, and talent. It integrates social, gamification, and a new patent-pending authentication process for NFTs.
VSA Partners is a hybrid brand strategy and design agency that delivers design-driven experiences for the world’s most respected and forward-thinking organizations, including Google, Nike, IBM, Robinhood and Affirm.