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Ripple Gives Money to Creators Again, Especially This One: Details

Wed, 10/26/2022 - 11:38
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Gamza Khanzadaev
Ripple launches new wave of $250 million fund with aim to boost XRPL NFTs
Ripple Gives Money to Creators Again, Especially This One: Details
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Ripple has opened a third wave of the $250 million Creator Fund to help creators launch NFT projects on XRPL. As stated by the company, to be a grant applicant, a project must be centered around digital and physical goods, be independent, be close to completion and be focused on long-term growth, specifically on XRP Ledger. Funding for projects will range from $25,000 to $250,000, depending on project requirements and maturity level.

The $250 million Creator Fund was launched by Ripple just over a year ago to fund a program to learn about the NFT industry and sponsor developers and creators. In addition, the company's big ambition was to compete in this field with the absolute leader of the NFT market, Ethereum.

In particular, the studio MINTNFT, which has already collaborated with the global luxury brand Balmain at Paris Fashion Week, graduated from the foundation's program.

Support is not just money

In addition to financial incentives for those NFT creators who want to build and develop their products on XRP Ledger, Ripple is also encouraging blockchain technology development in this new digital field.

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Top XRPL Project Makes Big Announcement Ahead of NFT Revolution

The talk is about the XSL-20 amendment, which is designed to allow blockchain to go above and beyond in the minting and distribution of XRPL-built NFT projects. Although the launch of the innovation did not go smoothly, its long-awaited implementation is due to take place in five days.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.