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Ripple and Forte Form $100 Mln Fund to Streamline Adoption of Blockchain in Gaming

  • Alex Morris
    📰 News

    💣⛓️🎮Ripple wants to disrupt micro-transaction economies in the gaming industry with the help of Blockchain while propelling the adoption of XRP


Ripple and Forte Form $100 Mln Fund to Streamline Adoption of Blockchain in Gaming
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Ripple has teamed up with San Francisco-based startup Forte in order to disrupt the gaming industry. Their $100 mln fund will provide monetary help to developers who are able to apply Blockchain technology to their games.

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Bridging Blockchain and gaming

Forte, which is backed by such big names as Andreessen Horowitz and Battery Ventures, is focused on building decentralized platforms for gaming. The company’s team was founded by well-known executives who were behind some of the top grossing games. According to Forte’s Brett Seyler, the $140 bln gaming industry, which mainly relies on micro-transaction economies, will greatly benefit from Blockchain. The disruptive technology is capable of making these economies much more scalable.

According to Ripple’s Ethan Beard, the gaming world has always been keen on new technologies, and Blockchain could help game designers create peer-to-peer (P2P) economies.      


Succeeding where CryptoKitties failed

While video games represent one of the biggest industries in the world, people still turn to eBay or third-party websites in order to purchase gaming goods. The introduction of Blockchain would make it much easier to perform such transactions inside the ecosystem.

Meanwhile, gaming dApps are still struggling to pick up steam with very few active users. For example, CryptoKitties, ‘the killer app’ of 2017, went from selling kitties for $100,000 and congesting the Ethereum network to having more developers than actual players. With that being said, CryptoKitties did show that Blockchain could be a great solution for in-app payments, and their legacy will live on.

Streamlining the adoption of XRP

Ripple’s initiative Xpring, which invests in startups that utilize the company’s technology, will offer the grants to game developers in the form of its native token XRP in order to increase its adoption. Beard reveals that some of their grants could be worth millions of dollars.

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Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak

  • Alex Morris
    📰 News

    Binance Coin is so far the second cryptocurrency (after EOS) that managed to rebound after January 2018's drawdown


Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak
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After surging by more than 14 percent over the last 24 hours, Binance Coin has managed to surpass its previous ATH that was recorded during the peak of the bull market in January 2018, according to the data provided by CoinMarketCap (CMC). The historic rally was triggered by numerous recent developments inside the exchange’s ecosystem.  

Binance Coin, CoinMarketCap
Binance Coin continues to register double-digit gains, image by CoinMarketCap

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BNB makes history

At the time of writing this article, the price of the BNB token is at $24.65, rising above its previous ATH of $24.46 that was recorded on Jan. 12. Hence, Binance Coin, the seventh largest cryptocurrency by market capitalization, becomes only the second asset to reach a new price peak after the crash of the speculation-driven bull market. EOS, which is sitting one spot above BNB on CMC, achieved a similar feat in May 2018.

‘Binance Coin is outpacing the overall crypto market. While Bitcoin is off 75% from its all-time-high, Binance Coin has recovered. There is fundamental growth and synergy taking place that is contributing to the rising price of Binance Coin,’ says BitBull Capital CEO Joe DiPasquale.

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Pumping other coins

On Apr. 18, Binance launched the mainnet of its custom Blockchain Binance Chain. The migration of BNB tokens from Ethereum to Binance Chain is scheduled to take place on Apr. 23. This is going to be the second largest token swap in history.

Binance, which is now completed with Ethereum, has already on-boarded some Blockchain projects, including Mithril (MITH) that experienced a 70 percent price pump after its launch on Binance Chain.

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