Ripple may have just dug itself into a Gold mine if you analyze their latest move that has seen them partner with blockchain platform Forte, while at the same time committing a $100 million through their investment wing Xpring which will be aimed at boosting developers on the platform, that are keen on venturing into, developing and launching blockchain based games.
The gaming industry is a gold mine, with an ever expanding base clocking 2.3 billion in 2018, with gamers all over the world reported to have spent $137.9 Billion by the end of the fourth quarter of 2018. $137.9 Billion represents a 13.3% year after year gain of which approximately $70 Billion was made from mobile phone revenues that went up by 25.5 percent in the same time frame. The global games revenue is expected to spike by double digits again, by 10.3% which will come to approximately $180.1 Billion by the year 2021.
Therefore, Ripples partnership with Forte- a blockchain platform where developers can launch new games or where existing games can be imported to- shows Ripple’s long term ambitions. It also happens to be a demonstration of how the blockchain as a disruptive technology, causes a shift in any form of digital interaction.
The blockchain platform Forte created by gaming veteran Kevin Chou, and Brett Seyler, has had its fair share of backers who include industry luminaries and seasoned venture capitalists Andreesen Horowitz, Coinbase ventures, Canaan partners, Battery ventures, among others who have all funded the project.
On the partnership with Ripple, Xpring head Ethan Beard had this to say while in an interview;
“We are thrilled to partner with such a world class team of game industry veterans. 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 will heavily rely on Ripple technology by riding on their fast and transparent ledgers in their quest to help developers create a better ecosystem where blockchain technology can be effective in improving game designs while at the same time increasing engagement which will increase revenue streams for ardent gamers.
Forte will also make use of Ripple’s XRP to facilitate settlements as well as Codius to facilitate seamless cross chain smart contracting purposes. To kick start the project, Forte will aim at developers with more than 50,000 users willing to migrate from centralized to a decentralized operating environment.
While confirming the partnership, Forte’s vice president Allen Ma said;
“We’re excited to connect with developers who are running live game economies with tens of thousands of daily active users or more and have an active interest in using blockchain technology to improve their business.”
There is no doubt whatsoever that the partnership between Ripple and Forte is full of potential. You should also keep in mind that this partnership has been sealed just three months after Tron launched the Tron Arcade that has $100 million spread over a time span of three years intended for building a robust blockchain game ecosystem based off the Tron blockchain.
Just like Forte, Tron’s ambition is to directly empower developers as they innovate and create new ideas while launching new games that will contribute to an autonomous ecosystem. This marks yet another key partnership that demonstrates Ripple’s ambition. Tapping into the gaming goldmine is no doubt a great move that should excite all in the XRP community. If still doubt that 2019 could be the year for XRP; the proof is in the partnerships.
Image courtesy of CoinRevolution.com