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- $100,000,000 Ripple Investment Brings Crypto and Blockchain Technology One Step Closer to Gaming Industry
$100,000,000 Ripple Investment Brings Crypto and Blockchain Technology One Step Closer to Gaming Industry
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Blockchain gaming startup Forte is teaming up with five developers to tap the technology underpinning cryptocurrency and apply it to mobile and computer games.
Forte is touting its new partnership with Hi-Rez Studios, Netmarble, Magmic, nWay and DECA Games, which will all be joining the firm’s existing roster of game creator partners, which includes Disruptor Beam, Other Ocean and Kongregate.
The announcement comes a year after Ripple, which utilizes the cryptocurrency XRP to power its payment settlement system, announced a fund to promote blockchain integration in the world of video games. Forte now oversees Ripple’s $100-million investment in the gaming industry.
Forte says blockchain technology holds massive potential. Kaiser Hwang, the company’s vice president of marketing, says it will enable players to securely buy and trade in-game assets and even unlock new revenue streams.
“We firmly believe that blockchain technology by itself is not enough. Engaging player experiences must accompany it and are paramount to bringing the benefits of blockchain technology to the mainstream.
That’s why we’re partnering with the best game creators in the world – ones that have an intimate understanding of how to harness cutting-edge technology to create engrossing, rewarding, and innovative game experiences for their player communities.”
In addition to its partnership with Ripple, Forte is backed by a long line of investors, including a16z crypto, Andreessen Horowitz, Coinbase Ventures, Battery Ventures, 1confirmation and Canaan Partners.
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