Ripple devotes US$250m to support NFT projects

Ripple has set aside a US$250 million fund to provide creators with the financial, creative and technical support needed to explore and craft premium non-fungible token (NFT) and other tokenisation projects on the XRP Ledger.

While digital art and collectibles have quickly captured public interest and popularity, the utility of NFTs goes far beyond these use cases. By providing creative and technical support to a diverse array of marketplaces, creators, artists and brands, Ripple’s Creator Fund seeks to enable longtail use cases for tokenisation, such as interactive experiences and fractional ownership.

Ripple is teaming up with innovative NFT marketplaces and creative agencies who recognise the potential of these unique tokenised 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

“While NFTs have opened the door for a tokenised future, actually navigating these concepts is a different ball game for many. By starting with marketplaces and creators, our fund seeks to take the guesswork out of NFT projects to unlock unexplored tokenisation use cases on the XRP Ledger,” said Monica Long, General Manager of RippleX at Ripple.

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