Quick take:
- Ripple has disclosed the latest members to join its $250 million creator fund.
- The web3 gross settlement platform launched 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
Ripple has disclosed the latest members of its $250 million creator fund. The company signed the second wave of creators to the fund, affirming its commitment to unlocking the future of tokenisation.
The web3 gross-settlement platform launched the fund in September 2021 as part of an ecosystem expansion strategy that involved investing in new verticals within the crypto space.
Ripple’s plan has been to provide creators with the technical and financial support needed to build web3 projects like NFTs and other ecosystem tokens on the XRP Ledger.
The XRP Ledger is Ripple’s decentralised blockchain developer platform that allows developers to build highly scalable applications at low-cost. The platform also offers in-built royalty structures that speed up the community onboarding process, thus maximising value for creators.
The creator projects joining in the second wave included 9LEVEL9, an immersive experience that gives users a front-row view when attending live concerts and other events in the metaverse.
Chris J Snook, Founder of 9LEVEL9 said: “We will feature diverse, pop-cultural concert experiences for a global audience of hybrid in-person and virtual “front row seats” with expanded metaverse parallel immersions and community on the XRP Ledger.”
Japan-based NFT marketplace Anifie and Capital Block, a leading web3 platform for sports clubs also joined the group.
Tim Mangnall, CEO of Capital Block commented: “We see this as a long-term partnership and a big step in driving mass adoption of Web3 projects across sports fans globally.”
The NFT avatar tool Cross-Metaverse Avatars, which allows users to design and mint one-of-a-king avatars also made the cut together with the XRP-based NFT marketplace NFT Master and intellectual property production and publishing company for artists SYFR Projects.
The final project to join the second wave of creators to Ripple’s $250 million creator fund is Thinking Crypto an NFT project that gives holders access to exclusive interviews with top crypto leaders.
Commenting on the company’s second wave of creators, Markus Infanger, RippleX VP of Growth at Ripple said: “Web3 technology continues to transform the creator economy by giving power back to the creators. We’ve seen real utility in NFTs with the art community and it is no surprise we are seeing tremendous growth from the entertainment and media industry as a way to cultivate relationships directly with their audiences and offer new content distribution channels.”
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