Ethernal Labs Discloses Reasons Behind Ripple Partnership, Including Support for the Web3 Scene.
Ethernal Labs is collaborating with Ripple on bringing world-renowned brands and IP to the XRP Ledger community.
Ripple’s Creator Fund partner Ethernal Labs, has revealed the reasons behind its partnership with Ripple, as it highlights a need to boost the Web3 ecosystem.
Founding partner and Chief Operating Officer at Ethernal Labs Adrian Baschuk recently provided more insight on the reasons behind its partnership with Ripple’s Creator Fund and the significance of the alliance to its goal of supporting the Web3 scene.
According to Baschuk, the Ripple partnership provides Ethernal Labs with a better opportunity to present the global scene with top-quality NFT creation tools, as it brings NFTs and digital currencies to the masses through the use of the XRP Ledger (XRPL).
Ethernal Labs positions itself as an integrative creative studio that can be leveraged by the public, especially celebrities, for NFT creation and other NFT-related activities.
“Through this partnership, Ethernal Labs is excited to offer NFTs from globally recognized rights, licenses, IPs, brands, and individuals to a broader audience easily, quickly and securely.”
The technology studio also features an upcoming P2E Gaming platform and Metaverse Development studio. Ethernal Labs’ goal is to bring the masses NFT and Web3 experience.
Bashuk, speaking on the partnership with Ripple, noted that the alliance would help both entities bring the NFT experience to a broader audience. Additionally, he mentioned that Ethernal Labs would help boost the NFT space on XRPL by giving creators access to advanced NFT creation tools. “Ethernal Labs can provide industry-leading support for all things NFTs across the XRP Ledger community,” Baschuk highlighted.
Notably, Ethernal Labs targets athletes, musicians, all forms of celebrities, and digital creators, allowing them to create customized NFTs.
When asked why Ethernal Labs turned to XRPL, Bashuk noted that the XRP Ledger’s unique features would help the creative studio bring NFTs to brands and individuals quickly, securely, and easily. The XRPL has been touted as one of the leading networks providing a cost-effective and secure platform for the blockchain experience as it sees major adoption from top entities.
Highlighting the utilities of Ethernal Labs upon a successful XRPL integration, Baschuk mentioned that the creative studio would create custom NFT collections with top creators and IPs. He noted that the feature is coming soon. “We’ll see an exciting mix of launches giving the XRPL community access to a wide range of white-label experiences—stay tuned,” he added.
Launched in 2022 by NFT marketplace Ethernity for digital creators and celebrities who wish to create their own NFT collections, Ethernal Labs is fast developing into an industry leader in the NFT creative studio scene as it presents a hybrid platform for NFTs and the Web3 experience. Ethernity raised $20M for Ethernal Labs in February for its seed round, featuring investors such as Ripple and Alogrand.
Ethernal Labs was one of the first independent beneficiaries of Ripple’s Creator Fund, as announced by Ripple in March. The Creator Fund is a $250M commitment from Ripple to foster NFT creation on the XRPL as it assists independent creators and creative studios.
On Monday, The Crypto Basic noted that one of the first independent beneficiaries of the Creator Fund – NFT marketplace onXRP – disclosed that it had indexed about 240K NFTs and 9K projects on XRPL in just a week after the XLS-20 protocol brought NFT functionalities to XRPL.