- The fund’s initial group of investors was announced in April and this is the second.
- Ripple is still allocating all $250 million, despite the continuing bear market.
Second-wave participants include the metaverse platform 9LEVEL9, which will sell tickets to virtual events using NFTs; the Japanese fan-focused NFT marketplace Anifie; the NFT sports platform Capital Block; the NFT marketplace for XRP, NFT Master; the NFT intellectual property company SYFR Projects; the NFT membership project ThinkingCrypto; and the Cross-Metaverse Avatars.
Massive Boost For the NFT Sector
The fund’s initial group of investors was announced in April. And Ripple’s Head of DeFi Markets, Boris Alergant, said in an interview that it was established to hasten the development of the XRP NFT economy.
According to Dune Analytics, OpenSea, the top NFT marketplace, saw slightly under $350 million in total volume transacted on Ethereum in September. Which continues to be the most popular blockchain for NFTs today.
The XRP Ledger (XRPL) is a public blockchain. That is governed by a worldwide community of developers and is optimized for speed, efficiency, and dependability.
According to Alergant, community members and officials from the XRP Ledger Foundation and Ripple evaluated the Creator Fund submissions and voted on the winners. While Alergant has said that “We’re definitely committed to that $250 million and to seeing that innovation on the ledger.” The company has been vague about how much each innovator will get.
Despite the continuing bear market, when NFT activity has plunged to only a quarter of what it was in Q1 and Q2 of this year. Ripple is still allocating all $250 million. However, according to Alergant, the current cryptocurrency market decline is nothing to be concerned about.
Recommended For You: