Ripple has doubled down on its commitment to the NFT industry by declaring the second group of people who will get money from its huge $250 million NFT creator fund. Ripple is a big part of the Web3 ecosystem.
Ripple intends to promote and help NFT projects that are built on the XRP Ledger through this initiative. In essence, it gives tech start-ups a place to begin in order to create meaningful experiences on the new blockchain. Because of this, it has set aside a huge $250 million to help the next generation of NFT projects on its infrastructure.
In its most recent announcement, Ripple said it would help a number of interesting platforms built on the XRP Ledger. These platforms include Web3 platforms, 9LEVEL9, Anifie, Capital Block, NFT Master, SYFR Projects, ThinkingCrypto, and Cross Metaverse Avatars, all of which could change the game. All of them had a big intend to increase the NFT stakes and the profile of XRP Ledger in the Web3 environment.
Ripple initially declared its NFT creator fund in September 2021. Even though NFT activity has been slowing down recently, it has kept promoting the fund. In April, it announced the first group of recipients as it continues to explore and innovate in the Web3 space.
XRP Ledger is an open source, decentralized network that makes it easy to tokenize assets. It is a layer 1 network that is fully scalable and can compete with the largest players in the industry.