Cryptocurrencies
Ripple Starts $250 Million Fund to Woo Would-Be NFT Creators
- Mintable, mintNFT, VSA Partners will have access to the fund
- Projects will be tokenized on the XRP Ledger blockchain
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Ripple Labs Inc. is starting a $250 million fund to help creators of non-fungible tokens, in another sign of just how hot the NFT market has gotten.
The Creator Fund will provide NFT originators with the financial, creative and technical support to explore and craft premium NFTs and other tokenization projects on the XRP Ledger, Ripple said in a statement Wednesday. While the best-known NFTs tend to be art and collectibles, the fund will aim to support other use cases as well, like interactive experiences and fractional ownership, the according to the statement. Mintable, mintNFT and VSA Partners will also be involved, Ripple said.