Nearly 4,000 creator applications received to utilize the XRP Ledger’s tokenization benefits for NFT projects.
SAN FRANCISCO, March 10, 2022–(BUSINESS WIRE)–Ripple, the leader in enterprise blockchain and crypto solutions, today unveiled the first independent creators to receive funding for their NFT projects through Ripple’s Creator Fund. With the global NFT market reaching $25 billion in sales in 2021, NFT marketplaces NFT PRO, Ethernal Labs and onXRP have also teamed up with Ripple to integrate the XRP Ledger (XRPL) and deliver a faster, low-cost and carbon-neutral NFT experience for their users.
Notable creators initially engaging with Ripple’s Creator Fund include Justin Bua, an award-winning artist, author, producer, and entrepreneur; xPunks, which transformed the NFT ecosystem; and award-winning artist, filmmaker, and photo-scientist, Steven Sebring. By providing the necessary tools and access, Ripple is igniting a community of independent creators to kickstart their NFT projects using the XRP Ledger’s fast settlement, built-in royalty structures and co-ownership functionality:
- Justin Bua – “I am extremely excited to be one of the first visual artists working with Ripple to bring life to my artistic vision in this tokenized world and lend the support I need to grow the BUA community. Using the XRP Ledger delivers a proven, user-friendly and secure NFT experience for creators like myself and community members alike in an open and inclusive environment.”
- Steven Sebring – “With great gratitude the team at Sebring Revolution is looking forward to this partnership with Ripple and the opportunity to capture moments of pure photographic reality that will be offered as NFTs using the XRP Ledger. As an artist, having a platform that not only enables me to present stories in exciting new ways but also discover art, is an amazing moment in culture.”
- Ethernal Labs – “We are incredibly excited for Ethernal Labs to be a partner of Ripple’s Creator Fund and integrate the XRP Ledger,” said Nick Rose, Ethernal Labs CEO and founder. “This partnership allows us to bolster the Web 3 ecosystem by pioneering cross-chain interoperability and bringing NFTs and digital assets to the masses.”
- NFT PRO – “NFT PRO is excited to be a partner of Ripple’s Creator Fund. Our enterprise white-label NFT solution is a great fit with Ripple,” said Christian Ferri, CEO. “Together, we have an opportunity to build something truly unique and beneficial for the industry.”
- xPunks – “Creating value for everyone has finally been made possible using the XRP Ledger—no matter your background or budget,” said Kaj Leroy, founder and CEO of xPunks and onXRP. “With a mission and passion, you can achieve everything, for everyone.”
Independent creators—from artists to musicians, to game designers and builders—can apply to Ripple’s Creator Fund. As the only creator-centered fund in the market, Ripple provides a distinct advantage by integrating marketplaces and creative agencies—such as existing partners Mintable, mintNFT and VSA Partners–to help creators grow their communities and navigate their path to minting with the XRP Ledger. Moving forward, the Fund will continue to support creators on a rolling basis with themes for each “wave” of applications. Initial Creators include those that submitted projects focused on NFT use cases—from Metaverse & Gaming to Art & Collectibles; the theme of Wave 1 will be announced in Q2. These themes will enable the exploration of existing and emerging NFT use cases on the XRP Ledger, with future themes exploring Media & Entertainment, Sustainability and Real Estate.
“NFTs have very quickly proven to have real utility within crypto—from digital experiences and rewards to artist royalties, co-ownership of real-world assets and more,” said Monica Long, GM of RippleX at Ripple. “By way of our Creator Fund and strategic partners, we’re leading more creators into the tokenized future and bringing their NFT apps and use cases to life on the XRP Ledger.”
Launched in September 2021, Ripple’s Creator Fund is a $250 million commitment to help creators get started with their state-of-the-art NFTs. The Fund attracted nearly 4,000 applications to-date to realize the value and benefits of the XRP Ledger for tokenized assets. Its built-in decentralized exchange (DEX) provides fast settlement for tokenized assets of all types–including NFTs. Last May, Ripple proposed XLS-20, a standard that would support a native NFT type and seamless NFT experience on the XRP Ledger.