Ripple Invests $250M in Creators Fund for WEB3 Entertainment and Media

LAS VEGAS, NV – The constant development of utility in the Web3 universe often leaves many creative projects unnoticed, even those that are innovative and of high quality. This challenge is particularly daunting for budding creators and developers who may need more resources or connections to get their work seen by a wider audience.

One ongoing solution to this problem is providing necessary funding and support to content creators, developers, and entrepreneurs in the entertainment industry. Ripple’s $250M fund, focused on “entertainment and media,” exemplifies how Web3 can overcome financial support challenges to bring the Web3 vision into reality.

Woman holding Ripple XRP coin

This fund aims to enable the creation of new and innovative projects that capture a wider audience’s attention across the entertainment and media space. With the financial backing, creators and developers can focus on building the tools and technologies needed to promote and distribute their work, increasing their chances of exposure and rapid expansion.

“Web3 Fund” Focuses on Supporting Innovative Blockchain-based Projects in the Entertainment Industry

The latest Ripple fund specifically focuses on “Web3 projects” that utilize blockchain technology. This emerging technology has the potential to disrupt various industries, with the entertainment industry being a prime example.
By supporting projects using blockchain, the fund aims to back not only innovative and compelling initiatives but also cutting-edge projects likely to shape the entertainment industry’s future and connectivity.

technology city being constructed

Creator Fund by Ripple Backs Diverse NFT Projects

Ripple announced the second wave of recipients of its $250 million Creators Fund, established in January to support projects producing content on the blockchain.

The platform has backed a variety of projects, including the NFT sports platform Capital Block, Japanese NFT marketplace Anifie, Cross-Metaverse Avatars, Thinking Crypto, XRP NFT marketplace NFT Master, and NFT IP company SYFR Projects.

The Creator Fund aims to increase non-fungible token (NFT) adoption by encouraging more creators to use and benefit from this technology. NFTs are unique digital assets that cannot be replaced by identical items, used across various industries like art, gaming, and collectibles.

Ripple hopes to simplify the process for developers to access essential NFT features on the XRP Ledger, a decentralized digital asset platform, through simple API calls instead of complex smart contracts.

This approach makes it faster and easier for developers to access NFT features, such as minting, burning, exchanging, and assigning royalties. By streamlining the process, Ripple hopes to increase NFT adoption and benefit creators who use this technology.

person holding a cellphone recording

Ripple XRP Ledger Sets Aim as Top Choice for NFT Creation and Management, Despite SEC Legal Dispute

Ripple is setting itself as the go-to place for creating and distributing digital assets, positioning the XRP Ledger as a premier platform for minting and managing NFTs. They hope this will attract more creators to use the platform and generate more content.

Ripple faces legal action from the SEC, which alleges that the company’s sale of cryptocurrency tokens violated securities laws because the tokens were not registered. Ripple disputes these allegations.

Register for BREATHE! and Discover the Potential of Web3

Don’t miss the opportunity to explore the possibilities of Web3 and learn from industry experts. Register to attend the upcoming BREATHE! Convention, happening September 13-15 at the World Market Center Las Vegas. Learn about the latest developments in Web3, blockchain technology, and how these innovations are revolutionizing various industries.

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