Ripple says one of its biggest investments to date is designed to use XRP to transform the $140 billion video game industry.
Back in March of last year, Ripple’s investment arm Xpring allocated $100 million to help the gaming company Forte bring blockchain games to the mainstream.
In a new blog post, Ripple says blockchain is truly “game changing” for the industry, and its investment is designed to convince companies to funnel in-game purchases of virtual goods using the technology.
“Forte’s community-focused platform arms developers with the necessary tools and services that make it easy to integrate blockchain technology in game economies, enabling more equitable business models, deeper player engagement and entirely new types of digital interactions…
One of the key innovations of blockchain technology is its ability to unlock new economic and creative opportunities for players and game developers—but for most, the technology is extremely difficult to access, use and deploy.”
Ripple says Forte’s tech will utilize the crypto asset XRP to power gaming economies and focus on cross-chain compatibility to make it easy for developers to get up and running.
“Forte leverages the Interledger Protocol (ILP), our open source protocol for conducting transactions across different blockchains. In combination with ILP, the company utilizes the digital asset XRP to maximize cross-chain interoperability, security and inter-asset liquidity.”
Forte co-founder Brett Seyler says blockchain tech has the power to dramatically simplify complex gaming economies behind the scenes.
“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.”
Back in March, Forte revealed Hi-Rez Studios, Netmarble, Magmic, nWay and DECA Games are the latest developers to join its network of industry partners.