Ripple and Forte Create $100 Million Fund to Bring XRP to Mainstream Gamers

Ripple’s investment arm Xpring and blockchain gaming company Forte are forming a $100 million fund to bring blockchain gaming to the mainstream.

The fund will be managed by Forte and will be used to integrate blockchain technology and XRP into existing games with more than 50,000 daily active users.

According to the announcement,

“Forte’s technology stack includes components designed in close collaboration with Ripple, namely leveraging the open-source Interledger Protocol with XRP serving as a base pair settlement and the container-based hosting solution Codius supporting seamless transactions across blockchains.

By focusing on cross-chain interoperability out of the gate, Forte is setting the foundation for long-term, sustained consumer adoption of blockchain technology. Forte’s platform components blend this supporting technology behind easy to integrate components for game developers.”

Forte’s platform is designed to give developers an easy way to integrate blockchain technology to boost user engagement, increase monetization and give players true control over their in-game assets. Forte is backed by a long list of investors, including a16z crypto, Andreessen Horowitz, Battery Ventures, Canaan Partners, Coinbase Ventures, 1confirmation and more.

The global video game industry continues to explode in popularity, bringing in $43 billion in revenue last year alone.

Tron recently announced a $100 million gaming fund of its own called Tron Arcade, which will also be used to boost developers interested in blockchain gaming.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.