Ripple wants to bring the NFT hype to the XRP Ledger. The company announced Wednesday a “creator fund” worth $250 million to support non-fungible token (NFT) projects building on the XRP Ledger.
Ripple said it will provide NFT artists and marketplaces with financial, creative, and technical support. To that end, the company has partnered with creative agency VSA Partners and NFT marketplaces mintNFT and Mintable (in which Ripple is an investor, along with Mark Cuban and others).
Minting NFTs on the XRP Ledger will be a cost-efficient process and drive utility through use cases such as “interactive experiences and fractional ownership,” said Ripple. The blockchain also has an in-built decentralized exchange where users can trade tokens for XRP or each other, said the company.