Michael Jordan NFTs To Join XRP Ledger Amid Soaring Use Cases

XRP Ledger is witnessing an astounding demand for its hosting ecosystem of NFTs, months after release of its Creator Fund.
Creator Fund of Ripple is a $250 Million fund pledged to back creators by offering them necessary tools, monetary support, and collabs to flag off their projects on XRPL.
As of this writing, XRP was trading at a market value of $0.7418, down by 3.14% in previous 24 hours.

The Ripple Creator Fund

XRP Ledger is currently hovering in the skies of demand with pleasure for its NFT hosting ecosystem, months after Ripple released its Creator Fund concentrated on NFT.

As per a blog released by them, Ripple made an announcement that it had witnessed an astounding momentum and exhilarating use cases of NFT coming to life on XRPL, with a queue of creators joining its ecosystem of NFT which is concentrate on bringing tokenized projects, art, gaming and metaverse to life.

This Creator fund of Ripple is a $250 million commitment to back creators by backing them with useful tools, collabs, and monetary support to kick start their projects on XRPL.

Since its release back in September 2021, 4,000 creators have boarded the Ripple boat under several projects through its creator fund involving Justin Bua (award winning artist), Steven Sebring (Filmmaker), and xPunks.

XRPL has also collaborated with several marketplaces and creative agencies involving MintNFT, Ethernal labs, NFT PRO, VSA Partners, and Mintable to associate with the convocation of distinct artists.

Michael Jordan On Board With His NFT

Rare Air Media is the latest addition to NFT creators list. It is the producer of Michael Jordan’s visual autobiography “for the love of the game.”

Rare Air Media desires to create Non Fungible Tokens on XRPL for former NBA hall of famer, with the initial batch of NFTs anticipated to be released in second quarter this year.

Cause behind mounting XRPL NFT creators has majorly been because of its speed, which enables to make transactions in 5 seconds max. Reduced cost of transactions, ease of use and its viability have also played a part in users’ growth.

Now, XRPL is concentrated on developing further use cases on NFT-Devnet to allow creators who desire to start making NFTs or to step into the Web3 movement to engage with its functionalities flawlessly. They also want to extend its creator fund to lure more creators.

That said, NFT market’s growth remains on a behemoth’s back for 3 years now, it is crystal clear now that Web3 and NFTs could be the future. Already, prominent names like Paris Hilton, Snoop Dogg, Eminem, and mammoth brands such as Disney and Nike are already in Non Fungible Tokens’ playground.

According to a report, NFT sales have soared by 21,000% from 2020, with trades topping at slightly more than $17 Billion, soaring the total market valuation to $40 Billion. Total NFT acquirers surged from 89,000 to over 2.5 Million.