Ripple introduces new $250M creator fund for NFT development on XRP Ledger.
01 Oct 2021, 08:00
Ripple introduces new $250M creator fund for NFT development on XRP Ledger
Ripple, a provider of enterprise blockchain and crypto solutions, today announced a $250 million fund to provide creators with the financial, creative, and technical support needed to explore and craft premium non-fungible tokens (NFTs) and other tokenization projects on the XRP Ledger.
Heightened interest in NFTs globally has introduced new revenue streams and business models while deepening the mainstream’s relationships with the communities, people, and things they care about. However, when it comes to creating state-of-the-art NFTs, many creators face barriers to entry–including the fear their NFTs won’t sell and a lack of understanding on navigating different NFT concepts. Meanwhile, developers are burdened with high transaction fees and clunky user experiences.