Ripple-Backed Forte Uses XRP to Cause Transformation in Game Industry

Ripple-Backed Forte Uses XRP to Cause Transformation in Game Industry

Ripple reported that Forte, one of its largest investment arms, has been using the digital token XRP to make transformation in the $140 billion gaming market.

Last year, Ripple’s investment arm Xpring has spent $100 million on supporting Forte to bring the blockchain-based games to the mainstream.

Ripple stated:

“Forte’s community-focused platform arms developers with the necessary tools and services that make it easy to integrate blockchain technology in-game economies, enabling more equitable business models, deeper player engagement, and entirely new types of digital interactions…

“One of the key innovations of blockchain technology is its ability to unlock new economic and creative opportunities for players and game developers—but for most, the technology is extremely difficult to access, use and deploy,” the company added.

Forte is using the XRP, to drive gaming ecosystems and optimize cross-chain interoperability.

“Forte leverages the Interledger Protocol (ILP), our open-source protocol for conducting transactions across different blockchains. In combination with ILP, the company utilizes the digital asset XRP to maximize cross-chain interoperability, security, and inter-asset liquidity.”

Brett Seyler, co-founder of Forte, has indicated that the blockchain can simplify complex gaming.

He said:

“Creating game economies with multi-sided participation, open markets, and increased transparency offer a potent solution to the challenge of the complexity plaguing game developers that result in stagnant economy design.”

Swiss crypto bank adds support for XRP

Sygnum Bank, the first FINMA licensed crypto bank, announced that the XRP tokens for Ripple are now available via its banking services platform. Users can use the popular digital currency to access deposit, exchange, and credit services

Based in Switzerland, the bank will now allow customers seeking to diversify their direct investments in digital tokens to use the third most capitalized digital token behind Bitcoin (BTC) and Ethereum (ETH), in conjunction with other asset management products offered.

Sygnum customers may use deposits in traditional currencies such as the Swiss franc, the euro, the Singapore dollar and the US dollar to purchase, hold and trade XRP tokens backed by the Ripple protocol.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.