Ripple Launches a $250M Creator Fund to Support NFT on XRPLedger

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Ripple Launches a $250M Creator Fund to Support NFT on XRPLedger
Ripple Launches a $250M Creator Fund to Support NFT on XRPLedger

Ripple has been aiming to explore the fast-growing field in the crypto space, which is the NFT. The cross border payment company recently supported non-fungible tokens (NFT) with a $250 million creator fund.

Ripple to Explore NFT Space

The US company announced this news through its Twitter handle yesterday that it will be launching a $250 million creator fund to explore NFT on XRP Ledger.

Its involvement with NFT is an opportunity to connect deeper with its community. The introduction of NFT is to strengthen the relationship with their community and improve business model and revenue for both big and small companies.

Even though the creation of NFT is very lucrative, it also comes with fear of not being able to sell the NFT and the inability to understand the concept of NFT. The developers also experience malfunctioning on the platform and pay high transaction fees.

Advantages of Ripple’s $250M Creator Fund

Ripple’s Creator Fund aims to improve long-tail tokenisation use cases like interactive experiences and partial ownership. In addition, this is achieved through the creative and technical support of a wide variety of markets, creatives, artists and brands. Ripple will launch a fund with the NFT market, and institutions initially opened to third-party users.

Through its Creator Fund and partners, Ripple is accelerating the development of new financial technologies while eliminating the challenges associated with building exciting projects: Mintable, VSA Partners, and mintNFT, built with XRP ledgers to bring the true next generation of NFT to life, connects fans with quality brands, content owners, and talent.

The price of XRP at the time of writing has increased by 0.87%, trading at $0.93 in intraday trading. The market cap increased to $3,817,413,792.0,2, according to CoinMarketCap.