Ripple may not be the most popular company in the cryptocurrency space, but its persistence and desire to grow despite setbacks deserves credit. RippleX is a branch of Ripple focused on advancing technology development around XRP Ledger and recently provided $2 million to promote NFT solutions.
RippleX Fund 25 Selected Applicant for NFT Project
This announcement was released today by Ripple developers. RippleX distributed a total of $2 million in funds to 25 selected applicants from 10 different countries.
The focus of these applications is the development of open-source projects that deal with XRP Ledger or NFT on XRPL.
Although Ripple has long been focused on providing a fast and affordable payment network, developers seem to be looking for ways to unlock the potential of the blockchain and adapt it to the new era. While NFT is hugely popular, it’s an odd use case for the XRP ecosystem.
RippleX mentioned that it received more than a hundred suggestions, but the most exciting suggestions focused on the following topics:
Develop NFTs for various industries (retail, art, music, sports, digital advertising, and carbon capture).
Learning tools and platforms that build on and interact with XRPL
Data visualisation tools
Payment and security solutions
Incompatibility with NFTs, XRPL can significantly expand its user base and even begin to provide services in strategic areas such as identity digitisation, advertising models and supply chains for specific corporate customers.
Ripple Endorses NFT Projects from Ten Countries
Below are the selected projects. Each person receives a different amount of money:
This project aims to build a metaverse on top of the XRP ledger. The project aims to create an open-source NFT library, web-based NFT marketplace and WebGL 3D virtual gallery to present and interact with NFTs.
Aquarelle is headquartered in Australia but would like to interact with content creators primarily from India.
Anchain.AI – CISO™ Integration for the XRPL:
This project focuses on using NFT in cybersecurity to develop artificial intelligence for government compliance solutions. AnChain is based in the United States.
An XRPL browser and toolkit that will be updated to be compatible with NFT. Bithomp is based in Sweden.
CarbonLand Trust ESG NFTs = CO2 Bonds + Forest Conservation:
A project to create NFTs representing future emission rights. It is located in the United States.
NFT gallery and market with NFT browser function. It is located in the United States.
A startup company dedicated to automating fiat currency payments. It is located in Switzerland.
This project aims to develop an API/SDK platform for integrating XRP ledgers with applications. It is located in Brazil.
A digital art platform compatible with NFT on Ripple Net. It also uses XRP tokens as a payment method in transactions. It is located in Sweden.
XRPL-based advertising platform. It is located in the UK.
Golang SDK for building applications on the XRP ledger. It is located in the UK.
A 3D visualisation platform compatible with the tokens on XRP Ledger. It is located in the United States.
A plan to create an XRP ledger analysis tool for research, compliance, and risk management. It is located in the Netherlands.
A platform that allows football clubs to create NFTs on XRPL. It is located in the UK.
A music streaming platform compatible with XRP. It will use NFT to distribute income. It is located in the UK.
NFT platform based on the XRP ledger and located in the UK.
An initiative by the University of Luxembourg to develop smart contracts for the XRP ledger. It is located in Luxembourg.
A startup company that uses the Flare Network to transfer products between different blockchains
An NFT market. Based in Switzerland.
Xchange Retail Payment:
DEX/XRP Ledger Gateway. Located in the UK.
A startup that enables XRP transactions through iMessage. It is located in the United States.
A visual programming tool with a focus on XRPL solutions. Located in the UK
XRPL browser. It is located in Chile.
XRP Wallet Tool:
A web application that supports the creation of NFTs in XRPL. It is located in the Philippines.
A plug-in that allows the creation of NFTs to represent virtual real estate in Minecraft. Located in the United States