Ripple, a leading provider of enterprise blockchain and crypto solutions, has announced the second wave of recipients to join Ripple’s $250 million Creator Fund for non-fungible tokens (NFT) Web3 project.
Web3 is transforming the entertainment and media industry, especially music; Creator Fund projects will leverage the power of the XRP Ledger’s low-cost, instant settlement and built-in loyalty structure to enable tokenization use cases in these sectors.
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Ripple’s first wave of participants was revealed in April, which was also created to accelerate XRP’s NFT economy.
Ripple offers various projects in the second wave, such as metaverse platform 9LEVEL9, which will sell tickets to virtual events as NFTs, Anifie, a Japanese fan-focused NFT marketplace, Capital Block, an NFT sports platform, XRP NFT marketplace NFT Master, NFT IP company SYFR Projects, NFT membership project ThinkingCrypto, and Cross-Metaverse Avatars.
The Future Of The Creator Economy: Web3 And NFTs
“Web3 technology continues to transform the creator economy by giving power back to the creators. We’ve seen real utility in NFTs with the art community, and it is no surprise we are seeing tremendous growth from the entertainment and media industry as a way to cultivate relationships directly with their audiences, and offer new content distribution channels”said Markus Infanger, RippleX VP of Growth at Ripple
Sean O’Leary, the founder of SYFR Projects, believes that The Ripple Creator Fund and XRP Ledger allow artists such as SYFR Projects to remain competitive in an environment heavily dominated by large labels with big budgets.
“For the first time, gamers are able to design, purchase, trade, and own one-of-a-kind NFT avatars and wearables, which they can take across the metaverse and games,”said Kelvin Troy, CEO of Cross-Metaverse Avatars.
Ripple’s Creators Fund received about 4,000 applications in total. They plan to announce their 3rd and last wave of recipients later this year in the fourth quarter (Q4).