Ripple Welcomes Second Batch of XRPL NFT Project Creators to Benefit from its $250M Creator Fund.
Ripple has disclosed the second batch of its Creator Fund beneficiaries, as it reveals creators developing entertainment and media Web3 and NFT projects on XRPL.
Ripple is gradually taking the world by storm with its robust XRP Ledger and the moves geared towards developing the network. The blockchain company launched an initiative to encourage the creation of NFT projects that would demonstrate use cases in the media and entertainment sectors on XRPL.
Ripple recently announced the second wave of creators to receive funding from this initiative which it dubbed Ripple’s Creator Fund. The firm disclosed this through an official press release.
The second batch of creations involves seven different NFT projects looking to demonstrate several practical use cases of blockchain technology on XRPL, including but not limited to the areas of music, video streaming, and sports.
The creators of these projects are independent entities. They will be leveraging XRPL’s numerous attractive features, such as low transaction cost, improved speed, and impressive scalability, as they bring blockchain technology to everyday use in entertainment. XRPL also promises some upcoming NFT features, including co-ownership and an inherent royalty framework which should help improve the NFT space.
The 7 Web3 and NFT projects included in the second batch of the Creator Fund beneficiaries are:
An NFT marketplace for Japanese artists and content creators.
- NFT Master
An NFT marketplace that will enable creators to get instant payments for uploaded videos on its inbuilt video streaming service through XRPL payment channels.
A Web3 platform that gives users an exclusive front-row seat experience on the Metaverse through NFT tickets.
- Thinking Crypto
An NFT platform that will grant proponents the opportunity to have privileged interview sessions with top crypto personalities.
- Capital Block
This is a project looking to partner with European football entities to offer exclusive items to fans through an NFT membership.
- SYFR Projects
A platform that provides intellectual property services to artists and publishers through NFT agreements.
- Cross-Metaverse Avatars
A project that provides an avatar creation tool for users, allowing them to mint unique NFT avatars.
Regarding the development, Markus Infanger, RippleX Growth’s VP, highlighted the growing adoption rate of Web3 and NFT in the entertainment industry. He noted that there had been several use cases of NFTs in mainstream entertainment, and the growing interest is not unexpected.
“With the support of our strategic partners and the Creator Fund, we look forward to helping fuel innovations built on the XRP Ledger,” Infanger added.
Ripple launched the Creator Fund in September of last year through a partnership with crypto entities. The Creator Fund dedicated $250M to assisting Web3, and NFT projects aim to incentivize these projects as they reveal several blockchain utilities on XRPL.
As reported earlier this year, Ripple announced the first batch of beneficiaries for the Creator Fund in March. The beneficiaries included American artist and author Justin Bua, and American photographer and filmmaker Steven Sebring.