Ripple (XRP) And Forte Partner To Put $100 Million Into Blockchain-Based Gaming Fund

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Ripple (XRP) And Forte Partner To Put $100 Million Into Blockchain-Based Gaming Fund
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Forte, a group working to build blockchain-based gaming platforms, has just revealed its collaboration with Ripple’s (XRP) Xpring “developer incubator initiative”.

Under this partnership, the two will form a $100 million fund to provide for blockchain game developers. Forte will provide the technology and “open-source solutions” while Ripple will bring its experience in cryptocurrency and blockchain.

Collaborating For Improvement

“Blockchain technology has the potential to improve game designs and help developers run better and more successful game economies, but for many developers it’s difficult to develop and deploy,” reads the press release. It continues, “Forte’s platform makes it easy for developers to apply blockchain technology to their games, increasing engagement and monetization with their players. The inaugural fund, managed by Forte, is primarily targeting game developers operating live game economies with over 50,000 daily active users and an interest in using blockchain to unlock support for new game designs and drive business results.

Ripple is working closely with Forte to provide the technology, “namely leveraging the open-source Interledger Protocol” while XRP helps with settlements. Finally, Codius’ smart contract platform will be a “container-based hosting solution,” AKA interoperability. This focus on cross-chain tech will set “the foundation for long-term, sustained consumer adoption of blockchain technology”. The goal here is to make integration as easy as possible for developers.

Forte is a team full of game industry veterans from companies such as Kabam and Unity. They’ve also got backers such as Andreessen Horowitz, Coinbase Ventures, co-founder of Coinbase Fred Ehrsam, and more.

Brett Seyler, Chief Platform Officer of Forte, commented on the partnership:

“Blockchain technologies’ key innovations unlock vast potential for nearly all forms of digital interaction. Gaming is a $140 billion global industry driven predominantly by digital micro-transaction economies, which we believe will benefit immensely from the integrity and resilience of blockchain technology. The industry needs solutions that can support these economies at scale with cross-chain interoperability.”

Bringing In The People

The games industry is worth around $140 billion as of now. Gaming has grown a ton recently due to innovations such as free-to-play, mobile releases, and other innovative technology. Due to their accessibility, blockchain enthusiasts believe that games will help push the decentralized ledger into the mainstream.

Ethan Beard, Senior Vice President of Xpring, shared his thoughts:

“We are thrilled to partner with such a world class team of game industry veterans. Both Forte and Ripple have a shared belief that blockchain technology will have a massive impact on games, and that providing tools that are easy-to-use, chain agnostic and interoperable is a necessary step in driving scale consumer adoption.”

As of now, the fund is looking for game developers that “meet its criteria”. Devs that run “live game economies with tens of thousands of daily active users” are the target audience.

About Max Moeller

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Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/