Ripple and Forte Establish $100M Fund to Promote Blockchain Adoption in the Gaming Industry

https://www.finance-monthly.com

San Francisco-based blockchain gaming startup Forte has partnered with Ripple’s developer ecosystem initiative Xpring to create a $100 million fund in an effort to support game developers, according to a press release published March 12.

As Forte detailed in the release, the initiative was spearheaded to support the mainstream adoption of blockchain technology within the gaming industry by promoting engagement and monetization with players. The project specifically targets game developers involved in blockchain deployment as well as those running live games economies with over 50,000 active users per day.

As Forte Chief Platform Officer Brett Seyler highlighted in the release:

“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.”

As the startup detailed further, Forte’s products are anchored on the open-source Interledger Protocol and use Ripple’s XRP token as well as Codius, a container-based hosting platform for facilitating cross-chain transactions.

Backed by major industry players including Andreessen Horowitz, Coinbase Ventures, Canaan Partners, Forte is a blockchain technology startup founded in an effort to accelerate the game industry’s adoption of blockchain technology. Xpring is a Ripple initiative that builds infrastructure and supports innovative blockchain projects.

As blockchain gradually makes inroads into the game industry, a number of startups have been increasingly integrating the nascent technology into multiple pilot projects. Recently, modular blockchain platform Enjin has launched a Software Development Kit developed for the Unity game development engine, allowing Unity developers to create, integrate, and manage the circulation of ERC1155-compliant tokens on the Ethereum network.

Earlier in February, blockchain startup HashCash Consultants has also collaborated with an Australian video game developer to introduce a blockchain-based gaming platform in an effort to monetize online games.