Ripple announced the launch a $250 million fund to support creators. It will provide technical and financial support for NFT projects as well as tokenization projects on XRP. VSA Partners and Mintable join Ripple Creator Fund.
The fund will support creators and reduce market barriers. It will also address the lack of knowledge about NFT concepts and projects.
Significant Barriers To Entry
NFTs have seen a significant increase in global interest. The increased interest in NFTs has led to new revenue streams and business models, which have resulted in a deeperening of the mainstreams relationship to NFT communities.
However, there are still significant obstacles for creators when it comes creating state-of the-art NFTs. These barriers can range from fear that their NFTs wont sell as well to a lack of knowledge when it comes to understanding NFT concepts and projects. Developers must also deal with high transaction fees and a poor user experience on platforms or online NFT marketplaces.
Creating Use Cases For Tokenization
The public has been fascinated by digital art and collectibles, but NFTs offer more than just those mentioned. Ripples Creator Fund offers technical and creative support for many different markets, artists, creators and brands. It is also looking to allow long-tail tokenization use cases. This could include interactive experiences or fractional ownership.
Ripple has partnered with creative agencies and marketplaces that recognize the value of these unique tokenized assets. These marketplaces and agencies will be the first to have access to the fund as part of the launch. Ripple Creator Fund, along with its partners, are helping to accelerate NFT evolution while also alleviating many pain points associated creating NFT projects.
Ripple and its partners who joined the Ripple Creation Fund are clearly excited. Zach Burks (CEO of Mintable) commented.
Mintable is all about accessibility. Its high time we looked at it holistically. Creators from all backgrounds and disciplines need equal access to the space. We are excited to expand our partnership with Ripple in support of their Creator Fund, which will allow for greater industry growth.
MintNFT CEO James Sun, founder and CEO, expressed his disapproval at the partnership with Ripple Creator Fund.
“MintNFT is proud to have been selected as a key partner in building the next-generation NFT 2.0 Experience leveraging the XRP Ledger. This allows fans to connect with premium brands, content creators, and talent all over the globe.
Sarah Lent (CMO of VSA Partners) commented.
NFTs are a source for great excitement for creators. They allow new ways to build communities, and they can also help with brand equity. It is clear that NFT campaigns by creators and brands will have a lasting impact on customers, partners, as well as the wider community. VSA is a preferred partner of the creator fund and can help artists and brands think through the whole ecosystem of brand-building experiences and the community of fans to engage with and deploy the strategic guidance, storytelling, and storytelling required around NFTs in order to create brand value.
A Creative Experience for Developers and Creators
Creators looking for new ways to monetize their work will find a rewarding experience with the XRP ledger. Developers will love the XRP Ledgers speed and low cost. It also comes with built-in royalties. Library support allows NFT integrations to bypass XRPL development.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, financial, investment, or any other advice.