- At the first University Blockchain Research Initiative (UBRI) Connect conference, Enter Forte announced that blockchain technology will transform the gaming industry.
- Enter Fort provides developers with all the necessary tools and services to integrate the blockchain into the game economy.
Ripple describes in a new blog post that the gaming market with 140 billion USD turnover per year is a huge market that will continue to grow through the use of blockchain technology. Especially virtual in-game purchases and other game features, such as the creation and design of unique characters and items, attract more and more players every year.
Ripple Partner Enter Fort provides developer tools
The ability of the blockchain to open up new economic and creative possibilities for players and developers is often difficult to implement in practice. Therefore, Enter Forte, a company consisting of industry veterans, has set itself the goal of greatly simplifying the introduction of the blockchain in the gaming industry.
Enter Forte offers developers a variety of tools and services that enable them to easily and reliably integrate this new technology into the gaming economy, enabling fair, non-manipulable business models and completely new types of digital interactions. At the UBRI Connect conference, the CPO, Brett Seyler, presented the current impact and existing influences of the blockchain on the gaming industry. Seyler argues that the industry has grown through the blockchain more than any other sector:
The free-to-play business model dominates the way games are run now. This model has grown the gaming industry more than any other business model in the last ten years.
The backend of many games consists of old models and very complex codes, which make innovations difficult and do not provide sufficient flexibility. Therefore, the market stagnated at this point, but the use of the blockchain can eliminate this problem in the future:
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.
Forte uses the Interledger Protocol (ILP), which Ripple uses to perform transactions across multiple blockchains. Forte uses the digital asset XRP in combination with the ILP to ensure cross-block-chain interoperability, security and liquidity between the different protocols.
For blockchain-based games, this means providing transparent ways to track in-game transactions between different owners of digital assets in a game, such as transferring or buying and selling items. This allows transactions to be conducted directly between players, developers or publishers in a secure, non-manipulable environment.
The full presentation of Brett Seyler can be viewed here:
New emerging market for Ripple
This new partnership will further advance XRP’s application range and adaptation. Ripple has made smart investments to position itself broadly to be present in many key markets right from the start. Ripple invested in the Vega protocol several weeks ago to prepare the introduction of XRP for the derivatives market.
The Vega Protocol vision is to provide a trading system that enables private investors and companies alike to use a fully automated and distributed, secure, regulated and censored marketplace to trade derivatives. Ripple aims to have Ripple’s native token, XRP, listed on the derivatives platform and included in the Vega protocol portfolio from the start.
Ripple has also invested in the Flare Networks project to execute smart contracts on the XRP ledger. Flare Networks is the first Turing Complete Federated Byzantine Agreement (FBA) protocol. The Flare Network integrates the Ethereum Virtual Machine, enabling public and private networks to use and execute smart contracts.
Ripple has also partnered with CoinField to create the Sologenic trading platform. Based on the XRP Ledger, Sologenic tokens equities and ETFs from more than 25 global exchanges that can be traded using XRP and SOLO. This gives Ripple access to another financial market that weighs hundreds of billions and drives the adoption of XRP.
Subscribe to our daily newsletter!
No spam, no lies, only insights. You can unsubscribe at any time.
XRP’s price has risen by +2.97% to USD 0.2218 in the last 24 hours.