Ripple’s Xpring and Forte $100 Million Fund
Ripple To Monetize Gaming By Partnering With Forte
Xpring, an investment and incubation initiative from Ripple, has announced a new partnership with the blockchain gaming startup Forte. The result is a brand new $100 million fund for game developers. With this money, Forte will fund developers who want to make use of blockchain technology—especially those that want to monetize their games.
Forte, a blockchain platform where developers can launch new games or where existing games can be imported to, was created by a gaming veteran, Kevin Chou and together with Brett Seyler, their company has received funding from industry luminaries and seasoned venture capitalists including Andreesen Horowitz, Canaan Partners, CoinBase Ventures, Battery Ventures and others. In an interview, Ethan Beard, the head of Xpring said:
“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.”
Forte will heavily rely on Ripple technologies and will ride on their fast and transparent ledger as they help game developers create a better ecosystem where blockchain technology can be effective in improving game deigns while simultaneously increasing engagement thereby increasing revenue streams for ardent gamers.
Aside from the base layer, Forte will also make use of Ripple’s ILP where XRP will be used for settlement and Codius for seamless cross chain smart contracting purposes. To kick-start their project, Forte will be aiming at developers with more than 50,000 users willing to migrate from centralized to a decentralized operating environment.
While confirming, Allen Ma, the Vice president of partnerships at Forte, said:
“We’re excited to connect with developers who are running live game economies with tens of thousands of daily active users or more and have an active interest in using blockchain technology to improve their business.”