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Ripple's Partner Wants to Transform Gaming Industry with XRP
San Francisco-based company Forte, which formed a $100 mln fund in partnership with Ripple's investment arm Xpring back in March, keeps working on applying the blockchain technology in gaming.
Recently, Forte co-founder Brett Seyler explained the benefits of using XRP.
#Xpring's partner @FortePlatform makes it easy for game developers to use #blockchain technology to run better and more successful game economies by leveraging @Interledger and #XRP. https://t.co/cs3QquQMtY
— Xpring (@XpringDev) December 5, 2019
Alex DovbnyaBlockchain-based gaming economies
Forte is helmed by top-tier industry executives (including its founding CEO Kevin Chou) who are not focused on creating new powerful economies within the $140 bln gaming while making it more decentralized.
There have been multiple attempts at creating a killer gaming dApp, but the technology is still way too cumbersome for the average Joe. Forte wants to address the adoption problem by making such games more approachable.
“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,” said Seyler.
Blockchain is a perfect tool for creating peer-to-peer gaming economies since it could make in-game transactions easy, fast, and transparent.
The impact of XRP
In order to make the magic happen, Forte utilizes the Interledger protocol (ILP) that was created by former Ripple CTO Stephan Thomas for establishing connections between multiple blockchains.
On top of that, the startup also uses XRP for increasing the level of interoperability as well as security and liquidity.
Since its inception, Xpring invested more than $500 mln in around 20 companies to streamline the adoption of XRP.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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