Ripple firm believes that contribution of Ripple in the NFTs based platform creation will help creators to monetize their artwork.
In the present time NFTs based marketplace and projects are getting better attention from the crypto community, so most of the big crypto firms are looking to implement their ideas in the NFTs based concepts. Ripple became the latest to fund NFTs marketplace.
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On Wednesday, giant banking blockchain firm, Rippleannounced a $250 million fund for the NFTs marketplace to explore and generate new ideas and strategies for the use cases of NFTs.
Through the announcement, Ripple firm confirmed that they want to overcome the concerns in the NFTs based platforms like high transaction fees and possible effects on the environment because of NFTs.
“We believe NFTs embody the promise of tokenization and represent a tipping point for its embrace by the mainstream.. Through the Creator Fund and the XRPL, we’re excited to unleash new utility for NFTs and accelerate the broader shift to tokenization.”
So here Ripple firm is now focusing over the limitations and problems of the NFTs based platforms by searching the new advancement on NFTs based projects. So that they can create more opportunities for the growth of NFTs platforms with adoption by creators.
Before this fund launching by the Ripple firm, David Schwartz , Ripple CTO, stated about their plans and added that
“ledger’s low cost, high speed and payments features to streamline NFT creation at scale.”
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