The ecosystem project of Ripple’s developer Xpring and the blockchain based gaming company Forte together raised a fund of 100 million dollars to support the game developers. The news about the fund was revealed in a press release on March 12.
The present network for developers of Ripple, Xpring was introduced in May 2018, and it is now heading towards global gaming industry of worth $140 billion.
The money will be received from Ripple, and the fund will be managed by Forte. Forte is aiming to speed up the adoption of blockchain technology in the gaming industry by increasing the participation and monetization among the players, Verge reports suggest.
Forte products make use of an open source solution that has been developed in association with Ripple. These solutions mostly use open source Interledger Protocol, the Codius platform and use XRP cryptocurrency for adjustments.
The press release of the Companies revealed that blockchain technology has a tendency to improve the gaming designs and will help the developers to operate well and run more successful game economies. For most of the game developers, it will be difficult to design and to deploy. However, Forte platform will allow developers to use blockchain technology in their games more easily.
Forte’s is repeatedly aiming at game developers who are operating live games economies with more than 50,000 regular active users.
Ethan Beard, the senior vice president of Xpring mentioned in a statement, “The company is excited to partner with game industry that has world-class team,” referring to the Forte’s foundation team namely, Kabam, GarageGames and Unity.
San Francisco based blockchain startup company Forte is supported by large industry players like Andreessen Horowitz, Canaan Partners, 1confirmation, Battery Ventures, Coinbase Ventures and others. Xpring is an initiative of Ripple so as to build a developers community, companies and entrepreneurs who are involved in blockchain technology.
Blockchain Company, HashCash Consultants in the month of February, had mentioned about its partnership with Australian video game developer to move its white label cryptocurrency exchange and tokenization services to the gaming industry.
Blockchain has been slowly establishing its presence in the gaming industry. Ethereum (ETH) based digital asset tokenization startup Enjin, in recent times, had mentioned that it will be introducing a software development kit mainly for famous game development engine Unity. This software will enable the Unity developer to develop, integrate and control the distribution of tokens of ERC1155 over the Ethereum blockchain.