Ripple and Forte Launch $100 Million Fund for Blockchain Gaming Using XRP

Xpring, Ripple's developer ecosystem initiative, has partnered with blockchain platform Forte to form a $100 million fund to support game developers.

According to the company's press release, the fund will operate alongside Forte's platform technologies and include Ripple's open-source solutions, including XRP, aimed at mainstream adoption for blockchain gaming.

One of the biggest players in the crypto industry, Ripple, has decided to diversify its business model and get into the blockchain gaming world.

The company behind XRP announced the launch of a $100 million blockchain fund that is aimed at game developers.

According to the company's press release published on Mar. 12th, the fund will be overseen by Forte, a provider of blockchain-based platform technology for the gaming industry.

Brett Seyler, the chief platform officer at Forte, said that the company got involved in gaming as it's a $140 billion global industry that could benefit from blockchain technology.

Ethan Beard, the senior vice president of Ripple's development arm Xpring, told Fortune that blockchain will help game designers who've had a hard time facilitating a digital economy that can serve all types of players.

According to the company's press release, the fund is primarily targeted at game developers operating live game economies with over 50,000 daily active users.

Exploring the use of blockchain in such circumstances could enable new game designs and provide a better opportunity to monetize.

Judging by the mixed popularity of blockchain games based on Ethereum, especially CryptoKitties, Ripple's XRP could be tapping into a significant user base while competing in the sector.