Ripple Labs, the blockchain company standing behind the development of XRP cryptocurrency, initiated a $250 M fund to encourage creators of NFTs.
Related: Snoop Dogg Unveiled He Has an NFT Collection Worth $17 M
The firm said on Sept. 29, that Creator Fund will encourage NFT originators by supporting financially, technically and promotions. Digital artists and developers can use XRP Ledger (XRPL), to power their projects.🎤 We’re incredibly excited to launch our $250 million Creator Fund to enable creators to explore new use cases for #NFTs on the #XRPLedger and engage more deeply with the communities they care about. https://t.co/FJTsGET81C
— Ripple (@Ripple) September 29, 2021
Apart from art and collectibles, the fund will back other use cases, among them user-environment connection and fractional holdings.
Ripple informed that the initial partners for the fund are NFT platforms Mintable, mintNFT, and creative agency VSA Partners.Various actors in the NFT sector such as artists, brands, agencies and trading platforms can apply.
Trending: BNB Chain Gets Back to Normal After a Hack Estimated $100 M
The sector of NFTs has been growing, along with gaining more support. Recently, the NFT market for trading Twitch streamer clips Eternal attracted around $4.5 M from Mark Cuban, Coinbase Ventures and others.