Ripple to integrate blockchain tech in video games with $100 million fund

13 Mar, 2019
by Joeri Cant
Ripple to integrate blockchain tech in video games with $100 million fund

The cryptocurrency company Ripple plans to integrate blockchain technology into video games, and remake the gaming industry by creating a new way to create in-game marketplaces for digital goods.

According to Fortune, part of Ripple's plan to integrate blockchain technology into gaming, is a $100 million fund for developers, which will be overseen by Forte, a San Francisco company founded by prominent gaming executives, and which is backed and advised by a host of big Silicon Valley names, including Andreesen Horowitz, Coinbase Ventures and Battery Ventures.

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Ethan Beard, a senior executive with Ripple’s development arm Xpring, said that video games have long been quick to adopt new technology, from console to the PC to mobile.

'Now, blockchain will help game designers who’ve had a hard time facilitating an economy that can serve all types of players.'

Beard points out that gamers will buy other players’ accounts off eBay for hundreds of dollars, or turn to third party sites to buy in-game currency such as gold from World of Warcraft.

'By integrating blockchain technology into their platforms, game makers could bring such transactions inside the game.'

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The $100 million development fund will allow Ripple to expand its blockchain services beyond its core business of financial messaging software.

Beard adds that Ripple’s Xpring will distribute the grants to game developers in the form of XRP, even though he expects that most recipients will likely convert them to U.S. dollars.

Forte and Ripple explained that they are targeting game developers with over 50,000 daily active users.

'Forte’s platform design aligns well with where crypto is headed, with a sharded, application-specific architecture and coherent protocol-based abstractions for cross-chain interactions,' Danny Aranda from Xpring said. 

'Towards this, we’ve worked with the Forte team from early on to deeply embed Interledger, Codius and XRP in the platform architecture to maximize cross-chain interoperability, security and liquidity. With this technical foundation bundled other core technologies, tools, and easy-to-use services, Forte is building one of the most exciting platforms that will enable developers to reach mass consumer audiences.'

Aranda adds that Forte is intensely focused on great gameplay, new user behavioral models and delivering the best experience for developers and players.

'We believe Forte is the right team to tackle these problems and ultimately deliver mainstream adoption for crypto-based games.'

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