A Ripple executive said the company believes that tokenization can transform the creator economy and create new business models. Ripple backs entertainment, media and creators.
Ripple Web3 Projects backs entertainment and media. On Oct. 18, Ripple revealed the second wave of creators to receive funding for their NFT projects through Ripple’s Creator Fund. Funding was awarded to independent creators focused on building functional use cases in gaming and the Metaverse, as well as music and media on the XRP Ledger. This recipients included companies like 9Level9 Productions, Anifie, Capital Block, NFT Avatar Maker, NFT Master, SYFR Projects and ThinkingCrypto.
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 & technical support needed to create NFTs and other tokenization projects on the XRP Ledger.
Markus Infanger (vice president of RippleX Growth) shared that Ripple chose projects that brought life to tokenization. By focusing on projects that provide functional utility, such as access rights, ticketing and phygital items. According to the vice president, Ripple looked for ideas, teams and visions that best aligned with bringing innovation and creativity to NFTs that go beyond digital art. He also shared that, Ripple’s Creator Fund is open to all types of NFT projects with each wave of funding has a theme.
Infanger confirmed that Ripple’s Creator Fund has received over 4,000 applicants to date.
Ripple investing $250 million in creators within the Web3 Industry. It believes that a tokenized future can transform the creator economy, create new business models & deepen creators’ relationships with their communities.
Ripple Web3 Projects backs entertainment and media, Quick Take:
- Ripple has revealed the latest members to join its $250 million creator fund.
- The web3 set the fund in September 2021 as part of an ecosystem expansion strategy.
- The company wants to unlock the future of tokenisation by investing in creator projects including NFTs and the metaverse.