Ripple will Create an Investment Fund for Video Game Developers Using Blockchain

The main objective is to achieve the mass adoption of blockchain in the video game industry

In a recent press report, published by the chain PR Newswire Cision, on Tuesday, March 12th, it was informed that Xpring, the most important network of subsidies of Ripple, will give 100 million US dollars to the video games sustained development. This money will be managed and distributed by Forte, the famous blockchain provider linked to videogames.

It was known through the aforementioned press report that the money will come directly from Xpring, and that it will be distributed and controlled by Forte, to ensure the best way to invest and select the best budget injection point in the development.

According to the main priorities of this association, the idea is to invest directly in video game developers who work with more than 50,000 active users a day, as well as in those visionaries who seek to create new designs using blockchain technology.

It should be noted that Ripple’s Xpring will not only provide all the monetary capital in the massive investment project, it will also make available to the project the full potential of Ripple’s free software to develop open source solutions which allow a better functioning and growth of new projects. The company hopes to achieve a great adoption of blockchain technology in the growing videogame industry.

About this important association, the Director of Forte’s platform, Brett Seyler, declared that introducing blockchain technology, in a solid and billionaire industry like the video games world will avoid sudden drops and keep the blockchain technology stable.

“The game is a $ 140 billion global industry driven primarily by digital micro-transaction economies, which we believe will greatly benefit the integrity and resilience of blockchain technology. The industry needs solutions that can support these economies at scale with inter-string interoperability”, he finished.

Regarding this, Ethan Beard, Senior Vice President of Xpring at the Ripple Company, mentioned that both companies come to the same conclusion that the inclusion and development of blockchain technology in videogames is successful. Therefore, the fusion of these new technologies with the gaming industry has great commercial potential with sustained and sustainable growth.

“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 independent and interoperable is a necessary step to drive adoption on the part of consumers”, Beard commented.

Finally, the publication mentions that the Forte platform will take advantage of all the advantages Ripple provides, such as the open source Interledger protocol, the cryptocurrency (XRP) for liquidity in international payments and the Codius platform, for the creation of smart contracts.

The association comes after a significant drop or crisis of stability in the prices of cryptocurrencies. It is believed that they are financial moves which seek to maintain the short, medium and long term afloat, introducing them into stable economies and that; in addition, they function in dynamism and compatibility.

By María Victoria Rodríguez

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