The developer arm of the San Francisco-based software company Ripple grants developers $ 2 million.
Ripple announces first wave of funding
According to an announcement in the dev community, RippleX recently granted around $ 2 million to 25 developers from around the world. The announcement indicated that developers who are eligible for grants will be selected from over 100 incredible applicants.
The 25 winners include individuals and teams. However, three of them are selected from the University of Ripple’s blockchain research initiative.
While individuals and teams with NFT development on their radar have special importance in various sectors such as the arts, sports, music, digital advertising, retail, and carbon capture, grants are not limited to them. Rather, the scholarship holders also include developers who build on XRPL, learning tools for interacting with the ledger (XRPL), data visualization tools, and payment and security solutions.
Project Ledger City, 3D visualization, Bithomp and Audiotarky, music streaming platform, will each receive $ 200,000.
When selecting the winners, it was said:
“The projects funded by RippleX cover a wide range of topics such as the development of non-fungible tokens, educational tools for interacting with the XRPL, and payment solutions.”
Recently, Ripple has expanded in all possible directions, from providing payment solutions and CBDC services to NFT development.
Just recently, Ripple announced its partnership with the Central Bank of Bhutan to help the nation build their central bank-issued digital currency and run a pilot program.
This made Bhutan the second country after Brazil to join Ripple on a mission to build CBDC and run a pilot program after the company announced in March that it would run similar programs.
Despite all the productive developments that Ripple envisions, it is still not spared the effects of the SEC lawsuit. Just one day earlier, Ripple was denied the discovery in the SEC’s internal communications about crypto.