Ripple’s Xpring programme is teaming up with a blockchain gaming start-up Forte to launch a $100-million fund aimed at supporting developers of blockchain-based games.
According to a press release, published on March 12, Ripple will provide all of the $100 million, while Forte will contribute to the project with technologies that include “open-source solutions designed in collaboration with Ripple to accelerate the mainstream adoption of blockchain technology in gaming”.
Forte notes that while blockchain has the potential to improve game designs and help developers run better and more successful game economies, many game companies face difficulties in implementing the technology. Forte’s solutions are designed to address this problem. Meanwhile, the fund’s primary focus will be on game developers operating “live game economies with over 50,000 daily active users and an interest in using blockchain to unlock support for new game designs and drive business results”.
“Blockchain technologies' key innovations unlock vast potential for nearly all forms of digital interaction,” Brett Seyler, Forte’s chief platform officer, said in the press release. “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 industry needs solutions that can support these economies at scale with cross-chain interoperability.”
Fote’s team is comprised of “game industry veterans” from companies such as Kabam, Unity, and GarageGames. The start-up is supported by a number of “investors, advisors, and partners”, including a16z crypto, Andreessen Horowitz, Battery Ventures, Canaan Partners, Coinbase Ventures and 1confirmation, among others.
Xpring’s senior vice president Ethan Beard welcomed the partnership, saying that both Forte and Ripple believed 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”.