- Telecommunications Giant Vodafone Leaves the Libra Association
- Group of Central Banks Assesses Developing Central Bank Digital Currencies
- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
Forte, widely known for its game-changing innovations, announced a few days ago that the team is working together with Ripple’s Xpring to change the game – literally. Both partners are set to give a total of $100 million to game developers who operate live gaming and are willing to bolster their growth through blockchain.
It is no doubt that the game industry has metamorphosed in stages through the years and still has more stages to grow into. Technology has always been at the heart of the industry, helping it grow by leaps and bounds, and this time, the Forte team is of the belief that blockchain is the next technology in line.
From specialty pay-per-play arcade machines, the gaming industry grew into retailed boxed games that can be played on PCs and home consoles. This, in turn, gave way for downloadable games from the web and free games with the advent of mobile phones. Totaling a market value of $1 billion 30 years ago, the industry now boasts a market value capped at about $140 billion today. And this value is expected to continue to grow even until many more years to come.
No wonder the Forte team came together to create a better environment capable of expediting this growth in no time. The game tech gurus are ready to promote the industry with tools as well as scalable platforms like blockchain technology.
In collaboration with Ripple’s Xpring, the innovative arm of Ripple involved in developing and collaborating with innovative blockchain projects, Forte will be empowering tons of live gaming centers which has garnered hundreds of members and with developers who are ready to leverage the benefits of blockchain technology for its growth. The fund will be managed by Forte and given only to game developers who meet the criteria set by both parties.
The aim of this project is to create a better environment for game developers and gamers to live in. With blockchain, game developers are sure to improve their game designs and operate better and more successful game economies. Forte’s platform is ready to assist this project with its innovative tools that help demystify the complex nature of blockchain, making it easy for just about any game developer to apply blockchain technology to his/her games.
Commenting on this game-changing project, the Chief Platform Officer Forte, Brett Seyler, opined that innovations from blockchain technology hold the key to unlock several potentials for virtually all forms of digital interaction, of which gaming is one. He asserted that the industry needs solutions capable of supporting the micro gaming economies.
Speaking for the Ripple’s Xpring team, Ethen Beard, the Senior Vice President, said that they are thrilled to partner with the Forte team. Ripple and Forte, in his words, share the same belief that blockchain technology will have a massive impact on games.
Ripple isn’t the only cryptocurrency organization to heavily invest in the gaming industry. In December 2018, Tron invested $100 million in what it has dubbed as ‘TRON Arcade,’ a blockchain gaming fund.