Ripple’s ecosystem for developers Xpring and gaming industry-oriented blockchain platform Forte have reportedly set up a $100 million JV business that will be aimed at providing assistance to game developers.
The initiative is designed to accelerate the spread of blockchain technology in the gaming industry by attracting new players and creating new monetization opportunities. Under the agreement, Ripple will undertake commitments to secure the required funding of the business, while Forte will play a managerial role.
"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," the company’s official press release reads.
Ripple and Forte share the idea that blockchain can be a strong booster for the gaming industry. Moreover, Xpring Senior Vice President Ethan Beard believes that it is rather important to provide easy-to-use tools that are not tied to any specific blockchain to encourage technology adoption in general.
With applied blockchain technology, game development will improve significantly, while developers in their turn will be able to create a more successful gaming economy. Although it is currently difficult to work with it, Forte will facilitate the process of using it in games.
Notably, Forte appeared in February 2019 getting funding from a16z, Andreessen Horowitz, Battery Ventures, Canaan Partners, Coinbase Ventures, and 1confirmation. The head office is located in San Francisco.