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Funding

Forte and Ripple’s Xpring form $100 million fund to support blockchain technology in gaming

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Blockchain-based platform technology provider, Forte, and Ripple’s developer ecosystem initiative Xpring, have formed a $100 million fund to support game developers.

The funds will be operating alongside Forte’s platform technologies and include open-source solutions designed in collaboration with Ripple to accelerate the mainstream adoption of blockchain technology in gaming.

With Forte’s platform it becomes easy for developers to apply blockchain technology to their games, increase engagement and monetization with their players. The inaugural fund, managed by Forte, mainly targets game developers operating live game economies with over 50,000 daily active users and having an interest in using blockchain to unlock support for new game designs and drive business results.    

Forte’s technology stack includes components designed in close collaboration with Ripple, namely leveraging the open-source Interledger Protocol with XRP serving as a base pair settlement and the container-based hosting solution Codius supporting seamless transactions across blockchains.

The Forte team comprises of game industry veterans, hailing from industry leading game companies such as Kabam, Unity, and GarageGames.

Brett Seyler, chief platform officer at Forte, said: “The industry needs solutions that can support these economies at scale with cross-chain interoperability.”

Forte is actively funding game developers who meet its criteria.

New York-based blockchain technology firm Symbiont.io recently closed a £15.29 million series B financing round, which was led by Nasdaq Ventures. The accumulated funds will be utilised to expedite deployments across various business areas, such as mortgages, syndicated loans, mortgages, and data management. Similarly, in Switzerland, blockchain-based smartcard wallets manufacturer Tangem also recently raised GBP 11.6 million from Tokyo-based digital asset venture investment firm SBI Crypto Investment.

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.

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