Non-fungible tokens or NFTs are, without any doubt, a booming business within the crypto space. It was thought that the NFT space had died out as investor’s interest in this particular area seemed grey in the last few years, but at the beginning of this year, the discipline has seen an instant boom. XRP has recently announced a $250 million worth of funds for the NFT projects, which will take place on the XRP Ledger. The company has promised that it will provide compatible support to the creators and NFT enthusiasts out there.
The motive of this program is to hire creators from around the world and provide them with all the necessary tools which they need to create and then subject their work to the XRP Ledger. Ripple announced this program on Twitter and has been subjected to a headline that XRP will now be focusing solemnly on the NFT industry. Creators will be able to work on their respective projects while having all the necessary support from Ripple.
Ripple Joins NFT Space
This fund will definitely bring all those creators onto a single platform and will allow them to engage with the communities they care about at a deeper level. The hiring process or the selection process is not currently lined out by Ripple, but it definitely plans to hire artists, creators, and NFT enthusiasts from around the world to provide them with financial, technical as well as creative support, which they require to make something out of their projects. VSA partners will be the creative head as a partnership has been struck between VSA and Ripple. The NFT platforms which will be taking part in this endeavor are mintNFT and Mintable. Many entertainment enterprises have already developed and shipped NFTs for their fans for the sake of enhancing their engagement with them. Some of them have started on an elevated level, while some are only starting with this whole endeavor at a very minimal capacity. Ripple is definitely not going to be the last cryptocurrency to issue a fund for the NFT space, as many others are thinking about doing the same thing amid a sudden rise in the NFT craze.