Blockchain-based platform technology provider for the games industry, Forte, announced on Tuesday that it is providing a $100 million fund for supporting game developers. The firm is launched in partnership with Ripple’s Xpring to catalyze the use of blockchain in mainstream games.
How Will the Fund Operate?
The fund will work alongside Forte’s platform technologies. It will include open-source solutions to collaborate with Ripple and help in mainstream adoption of blockchain games. In a press release, Forte noted that blockchain technology could improve game designs and help developers create more successful game economies as well.
Forte’s platform helps developers use blockchain in their games and help to increase monetization and engagement in games. Forte will manage the fund which is targeted at developers of game with live synthetic economies, particularly those with over 50,000 daily active users. The fund will be open to developers who satisfy these requirements and are interested in working on new game designs using blockchain to drive business results.
Ripple Xpring’s Senior Vice President Ethan Beard said on the collaboration:
“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.”
Forte’s Offerings Are Designed for Game Developers
The technology stack of Forte includes components designed in collaboration with Ripple. These are built atop the open-source Interledger Protocol and Ripple’s native currency XRP will act as a base pair settlement. Codius, a container-based hosting solution will support seamless transactions across blockchains. Through its cross-chain compatibility solutions, Forte is looking for sustained consumer adoption in the long term.
The company has gathered a team of game industry veterans from leading companies like Unity, Kabam and GarageGames. The company is supported by several investors including Andreessen Horowitz, a16z crypto, Coinbase Ventures, Canaan Partners, Battery Ventures and 1confirmation. Coinbase co-founder Fresh Ehrsam, Coinbase CTO and Earn.com CTO Balaji Srinivasan and former Dean of Berkeley’s Haas Business School Richard Lyons are also invested in the firm. Lyons also works as the economist-in-residence at Forte.
Forte’s Chief Platform Office Brett Seyler commented on blockchain’s use in games saying:
“Gaming is a $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.”