San Francisco-based company, Forte, which has successfully acquired $100 mln for its fund in cooperation with Ripple’s Xpring in March continues trying to find innovative ways to implement the blockchain technology in the ever-developing gaming industry.
Earlier the Forte Co-founder, Brett Seyler, explained how blockchain is benefiting gaming and gambling industries. One of those was the ability of blockchain technology to unlock economic and creative possibilities inside the games that, in turn, generate a massive share of the total industry revenue.
Building Games on Blockchain with Brett Seyler of Forte Labs at UBRI Connect 2019
Forte’s efforts have always been directed towards integrating blockchain technology in-game economies, enabling users and developers to experience entirely new types of digital interactions.
Seyler said once:
Creating game economies with multi-sided participation, open markets and increased transparency offer a potent solution to the challenge of the complexity plaguing game developers that result in stagnant economy design.
Blockchain-enabled players to make transactions with each other directly, it makes it easier to track in-game transactions between various owners of digital assets within the game.
Forte is highly focused on creating powerful economies within the $140-mln worth gaming industry while also making it even more decentralized.
Forte is betting Ripple’s tech will create the blockchain gaming metaverse https://t.co/NPShqP9zMh
— Nordic Ann 👑 (@NordicAnn) April 25, 2019
They were even trying to create their own killer gaming dApp as CryptoKitties did. Notably, they managed to earn about $100,000 for one kitten. But the technology that is supposed to be used for the app is still quite undeveloped and fragile.
However, the developers working in Forte are now doing their best to address the problem and make the creation of such games possible in the next foreseeable future.
XRP Impact
To make it possible, Forte uses the Interledger protocol (ILP) that was initially created by the former Ripple CTO, Stephan Thomas. The protocol helps to establish connections between several blockchains all at once. Not that long ago Xpring announced the acquisition of Strada Labs that was working on the development of the Interledger network.
Forte has decided to use XRP for future projects in order to ensure a high level of security, liquidity, and interoperability. Since the decision was made, Xpring invested about $500 mln in approximately 20 companies to enhance the adoption of XRP.
The companies range from independent developers to large scale partners. The focus of the campaign was to, firstly, create a healthy crypto infrastructure through contribution to such projects as XRP Ledger and Interledger projects, and, secondly, to help innovative blockchain-based projects grow and develop even further.
The bottom line of the investment to 20 companies to make it easy for developers to come up with projects that would, as a result, create use cases for XRP.
Xpring spokespeople announced that the developers and all employees standing behind the company will focus on three main aspects: XRP Ledger development, Interoperability, and Decentralized Finance that might be used in the gaming industry.
