Ripple (XRP) has finally entered the gaming industry with a partnership with Forte, a move once hinted by the CEO of Ripple, Brad Garlinghouse some few months ago. The two firms, has therefore announced a $100 million fund for game developers, making it possible to integrate blockchain into video games.
The decision has the potential to redesign and push the standstill gaming world into a modernized and tech updated space.
The fund, which is to be managed by Forte, a San Francisco-based gaming firm founded this year by well-known gaming industry executives, has the capacity to heighten the progress of the gaming industry by creating in-game marketplaces for digital goods.
Forte has prominent advisers and backers like Battery Ventures, Coinbase Ventures and Andreesen Horowitz.
According to Forte, the fact that “blockchain technologies offer a path forward” made them partner with Xpring, a Ripple’s ecosystem initiative supporting blockchain companies. Through Xpring, Forte will be using Interledger Protocol (ILP) and XRP.
“We believe these projects offer a strong foundation for a future we’re excited to help game developers build: where game economies offer multi-directional transactions between parties, greater player agency, minimized counterparty risk, multi-network contract interoperability, and trust-minimized computation.”
“We’ve also put together a $100M inaugural fund for game developers with Xpring aimed at bringing these and other core technologies of our blockchain platform to market.” Forte added.
A Wallet Surviving On Ripple’s Interledger Protocol is Being Built
Now, Forte is building a wallet that will feat into both new and existing games on many platforms. The wallet will also enable cross-chain transactions using Interledger.
Also, Forte is designing a container-based hosting solution that is compatible with the Codius specification for running game-specific chains and flexible, secure, performant computation that meets the engaging games need.
“We’re building a security-audited smart contract framework and tools to inspect nodes, update contracts, reconcile new data, generate data reports, and mint new chains. We’re securing licenses for regulatory compliant operations in all major markets. We’re offering market-making services to address cold start economic challenges in new game economies. We’re building a white-label marketplace framework with embeddable filter-by-game views.”
Meanwhile, as contained in a separate statement by Xpring, Forte’s platform design is in tandem with the future of cryptocurrency, exactly why Xpring is happy to partner with Forte on its verge to wedge together the economic relationship between players and developers, while also bringing in new development into the industry.