$250M for creators in Web3 is happening, thanks to a sizeable fund from Ripple.
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 nonfungible tokens and other tokenization projects on the XRP Ledger.
Speaking with Cointelegraph, vice president 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.
He said Ripple has taken a “no smart contract needed” approach to make it easier and faster for any developer to access all essential NFT functionality natively on the XRP Ledger through basic API calls, including minting, burning, exchanging and assigning royalties.
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