Ripple Grants $2 Million to Developers, as the Firm Focuses Specifically on NFT Market

Developers arm of San-Francisco based software company, Ripple, grants $2 million to developers.

Ripple Announced First Wave of Grants Issued

According to an announcement on Dev Community, RippleX have recently granted approximately $2 million to 25 developers from across the word. Announcement noted that developers approved for grants are selected from over a batch of 100 incredible applicants.

Among 25 awardees are individuals and teams. Whereas three of them are chosen from within Ripple’s University Blockchain Research initiative.

While individuals and teams with NFT development on their radar across different sectors I.e.art, sports, music, digital advertising, retail and carbon capture, are given a special importance,  grants are not limited to them. Rather, grantees also include developers building on XRPL, learning tools to interact with the ledger(XRPL), data visualization tools and payment and security solutions.

Project ledger City, 3d visualization, Bithomp, and Audiotarky, music streaming platform, are granted $200,000 each.

On selection of awardees announcement stated:

“The projects that are getting funded by RippleX deal with a broad selection of issues such as the development of non-fungible tokens, educational tools for interacting with the XRPL as well as payment solutions.”

Ripple’s Expansion

Lately Ripple have been expanding in all directions possible, from providing payment solutions and CBDC services to NFT development.

Just recently Ripple announced its partnership with Bhutan’s Central Bank, to help the nation build its Central Bank issued digital currency and to run a pilot program.

With that Bhutan became second country, after Brazil, to join Ripple with mission to build CBDC and run pilot program, after the firm announced running similar programs back in March.

Despite all the productive developments Ripple is coming up with, it is still not speared from the impact of SEC lawsuit. Just a day earlier Ripple is denied discovery into SEC internal communications on Crypto.