Ripple Allocates $250M for NFTs on XRP ledger, Here’s why XRPL is gaining traction

By Palak Malhotra
Published September 30, 2021 Updated September 30, 2021
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Ripple Allocates $250M for NFTs on XRP ledger, Here’s why XRPL is gaining traction

By Palak Malhotra
Published September 30, 2021 Updated September 30, 2021

Ripple has announced the launch of its $250 million Creator Fund that will enable creators to explore new use cases for NFTs on the XRP Ledger. The key features of the fund incorporate providing technical support to integrate with the XRPL and customize NFT experiences, along with Co-marketing and creative agency support for NFT creation and promotion. Furthermore, the latest creator fund will also facilitate access to XRPL marketplace partners and ease the NFT experience for both creators and developers according to Ripple.

 

XRP Ledger NFT Creator Fund

Ripple has collaborated with three initial partners, Mintable, mintNFT, and VSA Partners for its NFT project on the XRP Ledger. The news famous global payment network firm claims that a wide range of applicants will be considered for the creator fund. From individual creators, including musicians and artists or performers and athletes; to global brand representatives seeking new revenue streams through the NFT market. Furthermore, Ripple stated that creative and talent management agencies, along with innovators at digital marketplaces that are looking to integrate with the XRP Ledger can also apply for this NFT fund.

“Get support to create and monetize accessible and innovative non-fungible token (NFT) experiences on the XRP Ledger (XRPL)—one of the world’s fastest, most sustainable public blockchains. With its innate performance advantages, the XRPL powers a seamless development experience for state-of-the-art NFTs.”, stated Ripple on its website.

Ripple bullish about XRP Ledger as the lawsuit appears in defendants’ favor

As the XRP lawsuit gravitates in favor of Ripple, the company is appearing more confident with its upcoming XRPL projects. As the latest development in the XRP lawsuit revealed one of the most explosive pieces of information for Ripple to win this case, the XRP community is breaking the internet with speculations of a verdict in the defendants’ favor. Ripple brought up SEC’s 2018 legal analysis of XRP proving that the SEC’s manifold versions of the privileged argument do not stand. Ripple noted that an SEC division’s legal analysis of XRP was made available to “certain individuals at the SEC”, just a day before the controversial Hinman speech of 2018.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Palak Malhotra
301 Articles
Journalism & Mass Comm. ‘21 graduate, Palak is a GenZ journalist with background in Lifestyle journalism & PR. At CoinGape, Palak is a junior crypto journalist preparing for Web 3.0

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