Ripple Gelontorkan Funds Rp3.9 Trillion For NFT Creators On XRPL Networks

Ripple launched funding for NFT creators. (Photo; Doc. Token 1000x)

JAKARTA blockchain-based cross-border remittance company, Ripple, revealed that it will launch a second Ripple batch Creator Fund for NFT creators of US$250 million (equivalent to Rp3.9 trillion). This fund is intended to promote various NFT projects developed on the XRP Ledger or XRPL network.

This time, the company based in San Francisco, United States revealed that the group that received the injection of funds were NFT creators who focused on developing entertainment and media in XRPL. In this case, including metaverse platform 9LEVEL9, which sells NFT tickets to virtual events such as concerts, conferences, and awards events.

Other beneficiaries include Japanese metaverse music show Arfie, the Capital Block sporting agency, NFT Cross-Metaverse Avatars avatar design tool, NFT marketplace NFT Master, intellectual property production company SYFR Projects, and the ThinkingCrypto project, which allows NFT holders to access exclusive interviews with leading figures in the crypto space.

Web3 technology continues to change the creator's economy by giving creators the power back. We have seen real utilities in NFT with the art community and it is not surprising we see the tremendous growth of the entertainment and media industry as a way to foster direct relationships with their audiences and offer new content distribution channels, "said Markus Infanger, Vice President of RippleX Development at Ripple, reported by DailyHodl.

For information, the Ripple Creator Fund was launched in September 2021 to provide financial, creative, and technical support to creators working on use cases for NFT in XRP Ledger's distributed ledger. The first creator to receive funding for their NFT web3 project was announced in March.

On the other hand, Ripple is currently trying hard to end its feud with the US Securities and Exchange Commission (SEC) in court. In December 2020, the SEC accused Ripple of selling unregistered securities. On the other hand, Ripple rejected the allegations and stated that XRP was not a security.