The final teams of NFT creators have been added to the list of those who will use Ripple’s Creator Fund in the first wave, according to a recent blog post by the Ripple blockchain service provider. This fund will support projects that create “problem-centered benefits” for non-fungible tokens (NFTs), such as carbon credits, real estate, and the media.
The $250 million fund set up specifically for this reason will allow developers to construct and launch NFT products using the XRP Ledger.
Ripple’s fund was established to assist NFT developers in launching their products on the XRP ledger. Over 4,000 creators have applied to use the fund, which provides money as well as creative and technical assistance to creators. Justin Bua, Steven Sebrig, and Michael Jordan are among those who have been approved to use the Creator Fund’s benefits.
Rare Air Media, NFT artists Cecey Meadem and Jessica Ragzy, and others are now among the newly approved projects. In the blog post, Ripple also announced a new relationship with Momento NFT and WENEW Labs in the blog post, with the goal of improving conditions for NFT producers.
Ripple released XRP Ledger version 1.9.0 in the first week of April. It included changes to the XRP Ledger protocol to enable native NFTs on the XRPL.
The Ripple Creator Fund was launched in late September of last year.
Read more: NFT partner of Coinbase raises $70M in “Series B Funding”
