By
Mayowa Adebajo
April 18th, 2024
Ripple’s efforts, particularly with the Creator Fund, are in line with its Web3 goals.
Ripple has revealed another batch of recipients for its $250 million Creator Fund focused on supporting creators as they create non-fungible tokens (NFTs) and other related projects on the XRP Ledger. This round is only the second since the Creator Fund was first launched in September 2021. Recall that the first set of recipients was announced earlier in April.
Ripple Creator Fund Targets Firms in Entertainment and Media
For the second round of its Creator Fund, Ripple has focused on firms that are themselves focused on music entertainment, and media. The fund is also targeting firms that are into gaming as well as the Metaverse.
According to its list, Ripple named NFT marketplace Anifie and NFT sports platform Capital Block as recipients for the round. It also named Metaverse-focused 9Level9, SYFR Projects, NFT Avatar Maker, ThinkingCrypto, and NFT Master as other beneficiaries of the fund.
Speaking about what formed Ripple’s decision, Markus Infanger, vice president of RippleX Growth said it was beyond just digital art. Infanger claimed that Ripple looked out for firms that stood out in providing functional utilities such as ticketing and access rights. According to him, these firms share the same philosophy as Ripple in terms of bringing innovative creativity to NFTs.
Infanger further explained that the $250 million Creator Fund is not limited to a particular set of creators. According to him, every round has a theme behind it. He said partly:
“This wave is focused on entertainment and media, specifically music.”
Web3 Plans
It is worth mentioning that Ripple’s efforts, particularly with the Creator Fund are in line with its Web3 goals. That is the reason the fund is being targeted at firms within the Web3 industry. Also, Ripple believes that a tokenized future is fast becoming a reality and that’s why it is prioritizing NFT projects.
So far, Ripple confirms that its Creator Fund has received no less than 4,000 applications with more expected.