2023-10-18 13:00:00

Ripples $250M fund backs Web3 projects focused on entertainment and media

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Cointelegraph
By Judith Bannerman Quist

In September 2021, enterprise blockchain and crypto solutions company Ripple launched the Ripple Creator Fund, a $250 million initiative committed to providing creators with the financial, creative, and technical support needed to create non-fungible tokens (NFTs) and other tokenization projects on the XRP Ledger.

On Tuesday, Ripple disclosed the second wave of creators to receive funding for their NFT projects through Ripples Creator Fund. This round of funding was awarded to independent creators focused on building functional use cases in gaming and metaverse, as well as music and media on the XRP Ledger. This round of recipients included companies like 9Level9 Productions, Anifie, Capital Block, NFT Avatar Maker, NFT Master, SYFR Projects, and ThinkingCrypto.

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Speaking with Cointelegraph, VP of RippleX Growth Markus Infanger shared that Ripple chose projects that brought life to tokenization use cases in particular, projects that provide functional utility, such as access rights, ticketing, and phygital items. According to the VP, Ripple looked for ideas, teams, and visions that best aligned with bringing innovation and creativity to NFTs that go beyond digital art.

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