Boris Alergant, the head of DeFi Markets at Ripple, claimed that the fund was established to advance the NFT economy of XRP.
Ripple has announced the second wave of recipients chosen to join its $250 million Creator Fund focusing on fostering the development of NFT-related projects on the XRP Ledger.
The metaverse platform 9LEVEL9, which will offer virtual event tickets as NFTs, the Japanese NFT marketplace Anifie, the NFT sports platform Capital Block, the XRP NFT marketplace NFT Master, the NFT IP firm SYFR Projects, the NFT membership project ThinkingCrypto, and Cross-Metaverse Avatars are all joining the fund’s second wave.
Boris Alergant, the head of DeFi Markets at Ripple, claimed in an interview that the fund, whose initial wave of investors was made public in April, was established to advance the NFT economy of XRP.
Alergant said that members of the XRP Ledger Foundation, Ripple, and an unnamed community organization evaluated and cast votes on each of the Creator Fund applications submitted by Ripple. Alergant did not say how much would go to each author.
Despite the bear market, Alergant, however, does not believe that anyone should be alarmed by the current crypto drop.
“I’ve seen bear markets. Ripple has seen, you know, a ton of bear markets,” Alergant said.
“The innovation that comes out during these bear markets—it’s really when people sit down and build and these interesting new use cases and awesome things come out,” he recalled.
In particular, Alergant is enthusiastic about XRPL-based NFTs. Alergant thinks the XRPL NFT standard, dubbed XLS-20, will make the process “more approachable” for Web2 developers interested in NFTs.
For its Creator Fund, Ripple has had almost 4,000 applications in total. Sometime in the fourth quarter of this year, it intends to reveal the third and final wave of Creator Fund grantees.
