Ripple CTO David Schwartz predicted earlier this year that the second wave of tokenized assets would shift to utility-based NFTs. In fact, every Ripple executive who weighed in on 2023 crypto trends for the year predicted that 2023 will be the year of real benefit.
It seems that these predictions are already coming true. One of the most important trends in Web3 that has emerged in the last year is bridging physical products, services and experiences with the digital world – also known as ‘phygital NFTs’. From bringing IRL concerts to the metaverse; token gating with utility; brands, musicians and creators can offer exclusive products and content to their followers – powered by blockchain. It’s no surprise that some of the biggest household names in the fashion and food and beverage industries, including Starbucks, Nike, Adidas and Balmain, have adopted a tokenization strategy as a way to cultivate relationships directly with audiences and offer new content distribution channels.
Last October, Ripple brought a wave of NFT creators that transformed the entertainment and media industry – especially music – through the Creator Fund. Today, Ripple is unlocking new use cases for tokenization on the XRP Ledger with creators focused on blending physical and digital experiences with practical utility.
Introducing the Wave 3 Winners of Ripples Creator Fund
Since XLS-20 hit Mainnet, XRP Ledger has seen hundreds of projects benefit from XRP Ledger’s affordable, carbon neutral, instant settlement and built-in royalty structures – maximizing value for NFT creators and their communities to consume content.
Ripple has continued to invest in functional NFT projects through the Creator Fund, a $250 million commitment to foster innovation in tokenization. The creator fund provides financial, creative and technical support to help NFT creators bring their projects to life on XRPL, push the boundaries of what is possible and explore new uses for NFTs.
Through the Creator Fund, Ripple hopes to continue to accelerate the future of tokenization led by seven independent creators, including:
- Warm import evenings:
- Hot Import Nights wants to leverage NFTs as tickets to gain access to IRL events and exclusive merchandise only available to NFT holders. NFT holders will also be able to access a VIP area/lounge at all events by using their NFT as “a token of entry”. Michael Munar, President and CEO, comments: “Over the past two decades, the HOT IMPORT NIGHTS® brand has always been about the future and innovation. What is more appropriate than integrating blockchain technology for car enthusiasts to access major events, exclusive merchandise, secret car meets and few unique collectibles? With XRP Ledger’s reliable and sustainable technology, we can now achieve this to drive real-world experiences for HIN’s global community.”
- Adrian Balastegui:
- Adrian Balastegui is an artist who wants to mix the physical world and the digital world together through his canvas paintings. By offering the public the ability to hold their one of a kind NFTs as a digital asset in their wallet while printing and signing a physical canvas print, holders can also display the physical art.
- Emporio Records:
- Emporio Records is an independent record label looking to use NFTs as a way to engage with artists’ fans and communities by offering exclusive access to never-before-heard music, exclusive merchandise and advance concert ticket purchases. NFT holders can also use their NFTs as a ‘badge’ to meet their favorite artist in real life at concerts – an NFT gives you first access to purchase tickets, exclusive merchandise from the show and the opportunity to meet the artist in person. Sebastian Jácome, CEO of Emporio Records adds: “Thanks to the Creator Fund grant, we are now empowered to collaborate with talented individuals in Latin America to bring forth many collections of imaginative and original NFTs. We are thrilled to join forces with the Ripple team to create a dynamic portfolio of NFTs that resonate with fans of Emporio Records artists, in doing so we aim to strengthen our bond with our dedicated fan base and establish a long-lasting connection with them.”
- Mike Sotirakos:
- Mike Sotirakos is a creative mind who wants to help artists enter the digital world of NFTs while offering the element of real life artwork. Mike works with artists such as Lorenzo Quinn and helps accelerate the transitions from physical to digital art while offering the artwork to collectors. Creating physical artworks and launching a digital NFT brings traditional art collectors into the digital space. Sotirakos adds that he “sees XRPL as the perfect ecosystem for trading high-value art and collectibles efficiently and securely through NFTs. XRPL has always been focused on facilitating transactionality and value representation and is widely adopted across worldwide, making it the ideal partner for XRPStudio and our renowned artists.”
- Natacha Einat:
- Natacha is an artist looking to expand her NFT offerings into physical prints. Her fans and collectors are mostly NFT savvy and now want the best of both worlds – a digital NFT and a physical print. She offers collectors physical prints of her art on metal printed canvas that reflect her hard work and creativity. Collectors can use NFT to get first access to her master classes where she teaches digital illustration. “The potential of NFTs is limitless,” comments Einat, “and I’m excited to have the opportunity to bring my creativity to life and share it with the world in a new and innovative way on XRPL.”
- Robert Chew:
- Robert wants to bring his digital comics to life. His fans are avid comic readers and collectors and now want a physical copy of his digital comic series for their own personal comic collections.
- Trauma Amnesia:
- TraumAmnesia is a NFT, crypto-savvy artist who wants to bring more of his digital work to reality. His NFTs will come with access to events like a virtual gathering of NFT collectors to play video games together on an Oculus – a first step into understanding and participating in the metaverse.
It is exciting to hear firsthand from these visionary creators how they plan to leverage NFTs on XRPL. As Romain Lohezic of TraumAmnesia says: “The arrival of NFTs is a total game changer for creators. The transfer speed, carbon neutrality and simplicity of XRPL are huge advantages. As an artist, I am very happy to participate in the development of this use case at scale. »
Inspiring the next generation of creators
The Creator Fund today has attracted over 5,000+ applications to date to realize the value and benefits of the XRP Ledger for tokenized assets. Throughout the rest of 2023, Ripple will double down on this year’s previously announced winners to bring their projects to life.
Check out the Developer Reflections spotlight series to see which Creator Fund winners and other community members are building tool-based NFTs on XRPL.
To learn more about Ripple’s Creator Fund, visit https://ripple.com/creatorfund/.
