Xpring, Ripple’s developer ecosystem project, has entered in a partnership with gaming blockchain startup Forte to build a $100 million fund to support game developers.
Last year, Ripple launched its Xpring initiative that is aimed at developing infrastructure and establishing cooperation with innovative blockchain projects. The company wants to ensure the creation of a strong community of developers and firms interested in bringing changes to all spheres with the help of blockchain technologies including Interledger and XRP Ledger.
Blockchain Gaming Industry
And the project is gaining momentum while Ripple has taken a decision to enter the $140 billion global gaming industry. As it has become known Xpring has established a partnership with Forte, a game industry blockchain platform based in San Francisco. In the framework of their collaboration, they will launch a $100 million fund the main goal of which is to provide support to game developers.
As it has been disclosed, all the funds will be provided by Ripple while Forte’s task will be to manage the fund. It is said that the main idea behind this initiative lies in the companies’ desire to push the mass adoption of blockchain within the gaming industry and bolstering monetization.
Blockchain technology is believed to be able to enhance the existing approaches to game designing, ensure more opportunities for developers and help to build more successful game economies. Nevertheless, a lot of developers find it difficult to use this technology in their work.
That’s why Forte is trying to help them to apply blockchain to their games with a view to increase players’ engagement which will ensure higher monetization. Forte was founded in February 2019 with the support of such prominent investors as a16z crypto, Andreessen Horowitz, Canaan Partners, Coinbase Ventures, and others.
Collaboration of Xpring and Forte
The new fund is targeted at game developers that operate game economies with more than 50,000 daily active users and that are interested in using blockchain in their projects.
Forte works with technologies developed in collaboration with Ripple, namely it uses the open-source Interledger Protocol where XRP serves as a base pair settlement, It also utilizes the container-based hosting solution named Codius which facilitates transactions across blockchains.
Speaking about their new initiative, Brett Seyler, Chief Platform Officer at Forte 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 micro-transaction economies, which we believe will benefit immensely from the integrity and resilience of blockchain technology.”
Ethan Beard, Senior Vice President of Ripple’s Xpring, also expressed his company’s excitement about the new partnership:
“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.”
For Ripple, the creation of this fund may also represent an attempt to expand the usage of its blockchain technologies much wider than its core business. At the same time, it’s important to understand that if developers really decide to use the Interledger Protocol in their games, it may become a significant push for broader XRP adoption which can be very beneficial for Ripple, as the company has impressive XRP holdings.
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