Home / Crypto News / Ripple launches $ 100 million fund to enter the video game industry

Ripple launches $ 100 million fund to enter the video game industry

image

Ripple Labs has announced plans to integrate Blockchain technology into video games there. This should be done through a partnership with Forte. Forte is a company that specializes in promoting the adoption of Blockchain technology in the video game industry. To complete the project, Ripple Labs has committed $ 100 million to manage Forte.

Forte is advised and supported by many large Silicon Valley companies. These include Andreessen Horowitz, Coinbase Ventures and Battery Ventures.

Ethan Beard, a senior executive of Xpring at Ripple Labs, said in an interview with the Fortune website:

“Video games have long been fast-paced when it comes to adopting new technology, be it on console, PC or mobile devices. Now, Blockchain is helping game developers who have found it hard to use an economy that works for all types of players. “

Buy ripple

How do video games use blockchain?

Blockchain technology can be used in video games, for example, for in-game marketplaces and digital goods. This allows you to track purchases across different platforms and players. This could be the passage of a special (virtual) sword sold by one player to another. The previous trading options are inflexible and partly in a legal gray area. With the introduction of a blockchain-based solution of their own, game developers could overcome these problems. This idea started with the well-known “Crypto Kitties”, which attracted attention at the end of 2017. Users were able to buy and sell virtual kittens as part of a game. Some of these digital tiger tigers changed owners for thousands of dollars.

Brett Seyler, founder of Forte, said:

“The Crypto Kitties gave a first impression of what a blockchain can do. They have shown the benefits of a public transaction register that people trust. They also demonstrated that an in-game economy works well for the blockchain. “

Danny Aranda of Ripples Xpring wrote in a recent blog entry:

“To do that, we worked with the Forte team from the start. This allows us to embed Interledger, Codius, and Ripple XRP deep into the platform architecture to maximize cross-interoperability, security, and liquidity. “

That's what the ripple XRP fan “@XRPCenter” on Twitter said:

Forte is:

1) Building wallet will be integrated w / games & use ILP

2) Building container-based hosting solution compatible w / codius

3) Building security-audited smart contract framework

4) Securing licenses for regulatory compliant operations

5) Offering market making services pic.twitter.com/7kX39LjHV9

– XRP Research Center (@XrpCenter) March 12, 2019

“Forte:

1) Creates a wallet that integrates with games using the ILP [interledger protocol]

2) Creates a container-based hosting solution that is compatible with Codius

3) Builds a safety-checked framework for smart contracts

4) Obtain permissions for operations to comply with regulations

5) Offers Market-Making Services “.

Source: Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ripple-started-100-million-usd-fonds-fuer-den-einstieg-in-die-videospielbranche/

Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and information purposes only. We are not an investment advisor and do not provide financial advice.

We can not review all articles posted on CoinNewsDesk.com. Please independently research and verify any information here before relying on it as fact. It's also important to do proper due diligence and analysis, including consulting a professional financial advisor. No content on Coin News Desk makes any recommendation to enter into any type of investment or engage in any investment strategy on this website.

About Coin News Desk Team