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Ripple Unveils Third Wave Winners of Its $250M Creator Fund

source-logo  thecryptobasic.com 17 February 2023 08:29, UTC

Prominent blockchain company Ripple has announced the third wave of recipients of its $250 million Creator Fund.

According to an announcement yesterday, winners of the latest wave of Ripple’s Creator Fund are dedicated to blending digital and physical experiences with real-world utility.

The Wave 3 winners include Hot Import Nights; a project that sells NFT-based tickets to virtual events, Adrian Balastegui; a digital canvas artist, and Emporio Records; an independent record label leveraging NFT. Other projects selected to join the fund’s third wave are digital artists Mike Sotirakos, Natacha Elnat, TraumAnesia, and Robert Chew.

Commenting on the development, Romain Lohezic, founder of TraumAmnesia, said:

“The arrival of NFTs is a total game changer for creators. The speed of transfer, carbon neutrality, and simplicity of the XRPL are major pluses. As an artist, I’m very happy to participate in the development of this use case at scale.”

Ripple’s $250M Creator Fund

The development comes four months after Ripple opened applications for the third wave of the program. The Silicon Valley tech company noted that the third wave of the program would focus on creators building physical and digital NFTs. However, it called on creators from other use cases to submit their applications.

It is noteworthy that the $250M Creator Fund is an initiative dedicated to supporting the development of NFT-related projects on the XRP Ledger (XRPL). According to Ripple, the fund provides financial and technical support to help NFT creators launch projects on XRP Ledger.

While Ethereum remains the most popular blockchain for NFTs, the Ripple team hopes to attract more NFT creators to XRPL using the Creator Fund. Since the initiative commenced, Ripple said it had received over 5,000 applications from NFT Creators, including Ethernal Labs and xPunks. In March 2022, Ripple revealed the first wave of recipients of the fund.

Meanwhile, Ripple disclosed that since the XLS-20 amendment launched on the XRPL mainnet, hundreds of projects have benefitted from the blockchain’s low-cost, instant settlement, and carbon-neutral functionality.