By Nathan Ferguson
After the introduction of its Creator Fund, intended to support NFT artists and sellers, XRP Ledger has been witnessing a massive increase in demand for its NFT ecosystem.
Huge Rise in NFT Projects
According to a blog post officially issued by Ripple, the company stated that it has been eyeing an impressive level of “momentum” and interesting NFT-based initiatives being introduced on its XRP Ledger, highlighting the participation of popular NFT creators and traders on its systems, that have committed to uplift new endeavors such as, token-focused projects, blockchain gaming, virtual metaverse worlds and digital art.
Michael Jordan NFTs
The latest entry into the creators list was made by Rare Air Media, who are recognized as producers of the visual autobiography of the six-time NBA Champion and basketball Legend, Michael Jordan. With their entry into the list of creators, Rare Air Media is looking to develop Michael Jordan NFTs on the XRP Ledger and have also provided an expected launch time in the second quarter of this year, which is coming very soon.
Fast, Cheap and Easy Transactions
The motivation behind using the XRP Ledger is the impressive speed of the system, which enables users to perform rapid transactions, without having to worry about any processing time. The maximum time required for a transaction to be processed on the XRP Ledger is close to only five seconds. Another reason behind choosing XRP Ledger is because of cheap and easy transactions that are free of complications and are sustainable.
The XRP Ledger is specially built to facilitate both new and experienced NFT creators, who are looking to enter the Web3 system and take advantage of its various useful functions. XRP Ledger also revealed that it will soon be dilating the NFT creator fund to support more talented creators.
More on XRP Ledger’s Creator Fund
The Creator Fund from XRP Ledger is a massive support program worth about $250Million, intended to help emerging NFT artists and traders, providing them with different facilitations such as, important tools, financial fundings and opportunities for developing alliances, in order to assist them in launching unique projects on the XRP Ledger. This program was launched back in September of last year and is currently supporting around 4000 unique creators who have launched a plethora of projects.