- April 1, 2019
- Posted by: BlockX
- Category: Blockchain
Ripple is working on opening new blockchain application areas in the industry. This time, the project is investing in blockchain gaming in collaboration with new blockchain gaming startup Forte. The collaboration is to be between Ripple’s Xpring platform.
Speaking on the collaboration with Forte, Ripple senior vice president of Xpring Ethan Beard in a statement expressed excitement about working with Forte, adding that the two companies share a common perspective on the blockchain.
“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.”
While Ripple is providing the $100 million to fund blockchain-based game developers, the blockchain gaming fund will operate alongside Forte’s platform technologies designed in collaboration with Ripple. Forte has also secured an undisclosed amount as funding from Andreessen Horowitz, a venture capital firm owned by Marc Andreessen.
The blockchain is the technology behind digital currencies such as Bitcoin, Ethereum and XRP. Its application is so diverse that the true potential is still not fully uncovered. Different cryptocurrency projects use it differently, for instance, Ethereum is focused on smart contracts and dapps while Ripple is focused on payments.
The Chief Platform Officer at Forte Brett Seyler, speaking on its application in gaming technology said:
“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 microtransaction economies, which we believe will benefit immensely from the integrity and resilience of blockchain technology,”
Although blockchain has the huge potential that Brett speaks of, developers find it very challenging to develop and deploy, which is why the two companies are working on the gaming fund. The platform is aimed at making blockchain integration in gaming easier for developers in order to increase patronage as well as monetization of their games.
xPring is Ripple’s initiative to empower innovative blockchain projects across sectors with a vision to make money transfer as easy as information sharing today. The Forte project could be Ripple’s first collaboration that is not directly linked to payments.
Working with Forte, Ripple will be funding developers who run live game economies with tens of thousands of daily active users and are interested in increasing their capacity using blockchain technology.