Ripple’s Xpring and Forte Creates $100 Million Fund For Blockchain Game Developers
Xpring, the developer ecosystem project by Ripple and Forte, a game industry blockchain platform collaborates to develop a $100 million fund in order to support the blockchain game developers.
As per the press release published on March 12, the fund is targeted to encourage mass adoption of blockchain technology in the game industry, by increasing engagement and monetization with players. Reportedly, Forte is targeting game developers with an interest in blockchain deployment and running live games economies with more than 50,000 daily active users.
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.”
The products by Forte, reportedly use the open-source Interledger Protocol with Ripple’s XRP token and the container-based hosting solution Codius that facilitates cross-chain transactions.
The San Francisco-based blockchain startup, Forte is backed by big industry players such as venture fund Andreessen Horowitz, early-stage capital firm Canaan Partners and Coinbase Ventures among others. Whereas, Xpring is Ripple’s initiative in order to develop a community of developers, entrepreneurs and companies engaged in blockchain technology.
The Blockchain gaming industry has been gaining a lot of traction lately. Enjin, the Ethereum (ETH) based digital asset tokenization startup recently announced a soon to be launched Software Development Kit for leading game development engine Unity. In addition, the latest offering from the tech giant Samsung, S 10 series will have Enjin Support. The token’s price rocketed after the announcement.