Yesterday, the blockchain gaming startup, Forte, unveiled their $100 million partnership with Ripple's Xpring. The funds, which come entirely from Ripple, will be used to fund and support game developers who want to integrate their games with blockchain technology.
What Is The Nature Of This Partnership?
Just 2 weeks after announcing their entrance into DGaming industry, Forte is unveiling their partnership with Ripple's Xpring. The $100 million fund will operate alongside Forte's platform, which is currently being developed by notable industry veterans like Kent Wakeford, Brett Seyler, and Weiwei Geng.
Forte, which still hasn't announced its own funding, will certainly benefit from the funds provided by Ripple Xpring. Together, the two will use the funds to create open source solutions and attract talented game developers who are looking to integrate blockchain technology with their existing or new games.
It Makes Sense
Let's observe this partnership from a strategical POW, shall we?
On May 14, 2018, Ripple launched the project called Xpring. The sole goal of this initiative is to invest in blockchain companies and projects that are run by proven entrepreneurs. Those who met Ripple's high standards received access to Ripple's XRP digital asset as well as XRP ledger, an underlying open-source and decentralized technology behind XRP.
Forte, on the other hand, is a promising blockchain gaming project that is run by proven entrepreneurs. The company was founded by Kevin Chou, the co-founder of Kabam and Gen.G. Forte's team consists of industry veterans who worked for the likes of Unity, GarageGames and Linden Lab.
Forte's mission is to develop a platform that would help game developers integrate their games with blockchain technology. Not coincidentally, Ripple's Xpring also has a very similar goal, as well as the technology that can make this dream into a reality.
Emphasizing Long-Term Partnership And Interoperability
Both partners believe that the future of blockchain technology is interoperable, which creates fertile soil for a long-term relationship between the two. The partnership is also fueled by their desire to promote and create optimal solutions across the entire blockchain ecosystem.
Forte's platform, which seeks to lower the entry barrier for game developers who are new to blockchain game development, leverages open source projects Codius and Interledger Protocol, as well as XRP, which provides a low-cost and rapid settlement layer.
Remember, many notable names from both the DGaming and financial industries have already promised their financial and technological support to Forte. This includes Fred Ehrsam and Balaji Srinivasan from Coinbase, and Richard Lyons, a former Dean of Berkeley’s Haas Business School.