Ripple scores new partner to offer NFTs to billions of people – Will it drive XRP price to $5?

• Ethereal Labs said that the integration with XRP Ledger will help them offer NFTs from globally recognized brands, licenses, rights, IPs, and individuals.
• They would also be able to create customized NFT collections with leading artists in a fast and secure manner.

Blockchain startup Ripple is now working its way to provide users access to non-fungible tokens (NFTs). In a recent development, Ripple has partnered with Ethereal Labs via the Ripple Creator’s Fund.

Earlier this year in April, Ripple announced the launch of its Creator’s Fund with a $250 million commitment that helps creators bring their NFT projects to the market on the XR Ledger. As part of this partnership, the two players will bolster the Web3 ecosystem by bringing NFTs and crypto assets to the masses via the XRP Ledger, custom partnerships, and collaborations.

Also, this partnership between Ripple and Ethereal Labs will help to bring NFTs to a larger audience. Providing the creators’ access to a proven NFT platform will also help in bolstering Ripple’s NFT strategy.

Ethereal Labs is a multi-disciplinary studio that leverages Web3 technology to build groundbreaking IP. This includes P2E games, the upcoming PFP collection, and the Exorian Universe. As a result, Ethereal Labs helps to bring global brands, artists, and studios on a single blockchain platform. Besides, they have also created NFTs for some of the world’s highest-regarded brands and celebrities including DeLorean Motor Company, Toys R Us, Bruce Lee, Lionel Messi, Shaquille O’Neal, and others.

Ripple was one of the key participants in the $20 Million seed round of Ethernal Labs. This allowed the two players to help established celebrities and other household brands enter into the NFT space and bring the benefits of open-source XRP Ledger into the metaverse and gaming space.

Ethereal Labs and XRP Ledger

Previously, Ethereal Labs chose to integrate with XRP Ledger. Adrian Baschuk, founding partner and CCO at Ethernal Labs said that this partnership will allow offering NFTs from globally recognized brands, licenses, rights, IPs, and individuals to a broad audience in a fast, easy and secure manner.

“Until now, NFTs have been largely siloed, excluding some users. This enables further expansion of the NFT universe,” added Adrian.

Besides, he also explained the different use cases that Ethereal Labs would make possible after integrating with the XRP Ledger. For the integration, Ethereal Labs would be creating customized NFT collections with leading IPs and artists very soon. They would also be leveraging upon the XRPL community’s access to a wide range of white-label experiences.

Via Ripple’s Creator Fund initiative, developers will get creative and technical support to assist NFT artists. This will aid them in developing their projects on the XRP Ledger, stretch the bounds of what’s possible, and explore new use cases for NFTs.