• RippleX announced a new grant for its developers worth $2.6 million.
• The grant is focused on sustainability projects and infrastructural development, led by the XRP Ledger (XRPL) team.
• NFT trades volume had fallen to $108,000, however, at the time of the announcement, the volume was as high as $1.21million.
RippleX, the department of Ripple [XRP] that arms its developers with the tools and support for infrastructural development, recently announced an exciting new grant for its developers. The grant will provide a total of $2.6 million to be split among 25 teams across several continents. Julia Heitner, who made the announcement for the RippleX team through a blog post, noted that the funds would be allocated to the development of projects laid down in the Ripple roadmap. This grant, termed ‘Wave 4’, will focus on sustainability projects and infrastructural development, which will be led by the XRP Ledger (XRPL) team.
The XRPL team is also responsible for the development of NFTs (Non-Fungible Tokens) on the Ripple blockchain. However, NFT trading on the Ripple blockchain has not yielded much fruit. According to Santiment, the NFT trades volume had fallen to $108,000. But as of 12 January when RippleX communicated the development, the volume was as high as $1.21million. This quick buying and selling caused a ripple effect which spread to the XRP on-chain volume, and at the time of writing, the XRP volume in the last 24 hours had decreased to$1.06 billion.
Ripple has been responsible for the funding of over 100 projects before this grant, despite its issues with the SEC. Ripple hopes that this grant will provide the necessary support and resources to the development teams, so they can create better and more sustainable projects. The RippleX team has also mentioned that they are open to feedback and suggestions to help them improve the grant program and make it more effective.
It’s great to see RippleX taking this initiative to help developers create projects that can benefit the entire Ripple network and the XRP currency. With the help of this grant, developers will be able to create more innovative and sustainable projects that can benefit the XRP currency and its users. Hopefully, this grant will help to strengthen the XRP community and improve the usage and adoption of the currency, as well as its infrastructure.