In a report by The Block, David Schwartz, the CTO of Ripple, adds that while payments are what excite him the most, he is also interested in carbon credits and non-fungible tokens (NFTs) for use in video games.

He noted that users often become habituated to their favorite older games and are hesitant to follow creators into fresh products, stating that “there are real problems in the gaming space that NFTs solve,” he further added, “You have to start over from scratch, and there’s this feeling of loss. If you could take NFTs with you, then you wouldn’t have that feeling of loss, and you’d be more likely to migrate to the game that the game studio wants you on.”

There is also a $250 million creator fund, which, despite initial reluctance, is being used wisely, according to Schwartz. Schwartz stated that Ripple established its own fund in an effort to encourage the creation of pragmatic initiatives within rational ecosystems, and that before receiving any Ripple creator funds, developers are often required to raise external investment and create a minimum viable product.

Meanwhile, as bankruptcy proceedings continue for FTX after its abrupt collapse, CEO Brad Garlinghouse has projected that the cryptocurrency sector may emerge stronger in the coming days. He has also expressed interest in acquiring some of FTX’s assets.