Ripple’s developer ecosystem initiative Xpring has partnered with Forte, a provider of blockchain-based platform technology for the games industry, to form a US$100M fund to support game developers.
The fund will cover open-source solutions designed to accelerate the mainstream adoption of blockchain technology in gaming.
Forte said for many developers it can be difficult to develop and deploy blockchain technology in game designs, but its existing technology made it easier for developers to apply blockchain technology in their games, increasing engagement and monetisation with their players.
The inaugural US$100M fund will be managed by Forte and will primarily target game developers operating live game economies with over 50,000 daily active users, with an interest in using blockchain to drive support for new game designs and business results.
“Blockchain technologies’ key innovations unlock vast potential for nearly all forms of digital interaction,” Forte chief platform officer Brett Seyler said.
“Gaming is a US$140 billion global industry driven predominantly by digital micro-transaction economies, which we believe will benefit immensely from the integrity and resilience of blockchain technology.
“The industry needs solutions that can support these economies at scale with cross-chain interoperability.”
Forte’s technology stack includes components designed in close collaboration with Ripple, 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.
By focusing on cross-chain interoperability, Forte believes it is setting the foundation for long-term, sustained consumer adoption of blockchain technology.
Ripple Xpring senior vice president Ethan Beard said the company was thrilled to partner with such a world-class team of game industry veterans, with Forte’s founding team from game companies such as Kabam, Unity and Garage Games.
“Both Forte and Ripple have a shared belief that blockchain technology will have a massive impact on games, and that providing tools that are easy-to-use, chain agnostic and interoperable is a necessary step in driving scale consumer adoption,” Beard said.