Ripple's $250M Fund Supports Web3 Projects Focused on "Entertainment and Media"
A Ripple executive says the company believes tokenization can transform the creator economy and create new business models.< /p>
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In September 2021, blockchain and enterprise 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 October 18, Ripple announced that the second wave of creators would receive funding for their NFT projects through Ripple's Creator Fund. This round of funding was awarded to independent creators focused on building functional use cases in games and the metaverse, as well as music and media on the XRP Ledger. This series of recipients included companies such as 9Level9 Productions, Anifie, Capital Block, NFT Avatar Maker, NFT Master, SYFR Projects, and ThinkingCrypto.
Speaking to Cointelegraph, Markus Infanger, Vice President of RippleX Growth, explained that Ripple has chosen projects that bring tokenization use cases to life, especially projects that provide functional utility, such as as access rights, ticketing and phygital elements. According to the VP, Ripple sought ideas, teams and visions best aligned to bring innovation and creativity to NFTs that go beyond digital art.
Infanger also shared that while Ripple's Creator Fund is open to all types of NFT projects, each round of funding has a theme. He shared:
"This wave is focused on entertainment and media, especially music. We want to provide independent creators with the technical, financial, and co-marketing support needed to engage with their communities through NFTs."
Infanger has confirmed that Ripple's Creator Fund has received over 4,000 applicants so far.
A Ripple executive says the company believes tokenization can transform the creator economy and create new business models.< /p>
New
In September 2021, blockchain and enterprise 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 October 18, Ripple announced that the second wave of creators would receive funding for their NFT projects through Ripple's Creator Fund. This round of funding was awarded to independent creators focused on building functional use cases in games and the metaverse, as well as music and media on the XRP Ledger. This series of recipients included companies such as 9Level9 Productions, Anifie, Capital Block, NFT Avatar Maker, NFT Master, SYFR Projects, and ThinkingCrypto.
Speaking to Cointelegraph, Markus Infanger, Vice President of RippleX Growth, explained that Ripple has chosen projects that bring tokenization use cases to life, especially projects that provide functional utility, such as as access rights, ticketing and phygital elements. According to the VP, Ripple sought ideas, teams and visions best aligned to bring innovation and creativity to NFTs that go beyond digital art.
Infanger also shared that while Ripple's Creator Fund is open to all types of NFT projects, each round of funding has a theme. He shared:
"This wave is focused on entertainment and media, especially music. We want to provide independent creators with the technical, financial, and co-marketing support needed to engage with their communities through NFTs."
Infanger has confirmed that Ripple's Creator Fund has received over 4,000 applicants so far.
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