A Ripple executive says it is possible for the company tokenization transform the creative economy. He also notes that he believes he can create new business models.
Ripple launches Ripple Creator Fund
As you know, Ripple is an enterprise blockchain and crypto solutions company. In September 2021, Ripple launched the Ripple Creator Fund, a $250 million initiative committed to providing creators with the financial, creative and technical support needed to create Non Fungible Tokens (NFT) and other tokenization projects on the XRP Ledger.
On October 18, Ripple announced the second wave of creators to receive funding for NFT projects through Ripple’s Creator Fund. It will give this funding to music and media creators on the XRP Ledger. It will also give to independent creators creating functional use cases in the game and the metaverse. These buyers include 9Level9 Productions, Anifie, Capital Block, NFT Avatar Maker. Also included are companies such as NFT Master, SYFR Projects, and ThinkingCrypto.
Markus Infanger, vice president of RippleX Growth, talks about Ripple’s tokenization use cases. In this context, he says, he specifically chose projects that provide functional benefits such as access rights, ticketing and physical items. According to the vice president, Ripple wants to go beyond digital art. For this, it seeks the ideas, teams and visions that are most compatible with bringing innovation and creativity to NFTs. Infanger also emphasizes that while Ripple’s Creative Fund is open to all types of NFT projects, each funding wave has a theme. On the subject, the vice president says:
This wave focuses on entertainment and media, especially music. We want to support independent creators with the necessary technical, financial and co-marketing support to engage their communities through NFTs.
“A tokenized future is fast becoming reality”
Markus Infanger has confirmed that Ripple’s Creator Fund has received more than 4,000 applications to date. Ripple is investing $250 million in creators in the Web3 Industry. Infanger says this is because “a tokenized future will transform the creative economy.” He also notes that it will create new business models and deepen the relationship of creators with their communities. The vice president also states that Ripple prioritizes NFT projects. In this context, he makes the following statement:
Because we are seeing a tokenized future rapidly becoming a reality. In fact, the World Economic Forum predicts that 10% of world GDP will be tokenized by 2027. Just five years after yesterday! Ripple’s Creative Fund will attract a wider community of creators to participate in and benefit from NFTs. Thus, it will help accelerate adoption.
cryptocoin.comAs you follow, Ripple takes the “no smart contract needed” approach. Its purpose is to facilitate and accelerate any developer to access all essential NFT functionality natively on the XRP Ledger through core API calls, including minting, burning, swapping and assigning royalties.
The project envisions XRP Ledger as a leading platform for issuing and managing NFTs. It also hopes to position it as a place where creators and developers will continue to explore the utility in NFTs through use cases such as asset ownership and interactive experiences that will help bring a future to your token.
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