Ripple’s Xpring and Forte Invest $100m Fund to Support Blockchain-Powered Gaming
By Luke Flowers – Crypto Specialist
Ripple’s Xpring development initiative has partnered with the blockchain-based platform for the gaming industry, Forte, to introduce a $100m fund to support the development of blockchain-powered games. The fund will reportedly function with Forte’s platform in collaboration with Ripple to help advance the adoption of blockchain technology within gaming.
Forte’s platform is helping the utilise blockchain technology for easy application to improve game design and game economies. The fund will initially have a strong agenda on game developers operating live game economies that wish to incorporate blockchain technology for efficiency. The platform will help monetisation with players as they could buy crypto from the market place to use for game purchases. This economy of buying and selling cryptocurrency is sure to promote blockchain within gaming as any player can monetise their time playing games.
The technology of Forte will incorporate the open-source ledger of the Ripple network using XRP as a base pair. Investors will be able to buy XRP ready for trading on the platform that will support many new gaming economies with transactions across blockchains. Forte believe that implementing a cross chain solution will secure the infrastructure for the future of the ecosystem.
The gaming industry is worth roughly $140 billion globally in which most of the transactions are digital micro-transactions. These small economies could benefit massively from a blockchain ecosystem as these incur a substantial fee when considering the value of the transaction. Buying crypto for use within this gaming economy will bring cheaper fees and faster transactions for a better and more cohesive user experience.
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