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Ripple-backed Forte partners more game developers

Blockchain technology company Forte announced a partnership with the five well-regarded game developer firms to integrate blockchain into their digital games.

The San Francisco-based company aims to upgrade the games industry with seamless accessible blockchain technology. The company made an official announcement yesterday about teaming-up with game developers such as Hi-Rez Studios, Netmarble, Magmic, nWay, and DECA Games.

Each of them will be integrating Forte’s open and easy-to-use blockchain platform into one of their games. According to the statement, the collaboration will help to unlock new economic and creative opportunities for both the developers and their player communities.

Although the blockchain technology is only a tool to better player experience, the company believes that there should be a distinction made between games powered by blockchain and those that are not. According to them, that distinction is largely experiential and rooted in the alignment of incentives between players and game creators. Kevin Chou, CEO of Forte said in the YouTube video previously:

Blockchain technology will unlock new economic opportunities for gamers all over the world to make a living doing what they love.

Currently, the vast majority of gaming companies earn money from selling games or items used in the game. However, the players do not truly own the asset they purchase as they might be eliminated when the user deletes the game from his hard drive. The fraudulent activities are common while gamers exchange items between each other.

Blockchain, however, could make a difference here as players, who own virtual items, might trade between each other more safely. Additionally, developers can offer rewards or cryptocurrency payments to gamers who complete specific tasks.

Kaiser Hwang, Forte’s Vice President of Marketing talked to Forbes about the current state of blockchain integration into the gaming market:

While the sector is absolutely ripe for penetration, in order to take advantage of blockchain technology and the new creative designs it unlocks, game developers first need easy-to-use tools and comprehensive services to properly integrate blockchain technology into their games. They simply don’t exist today. But once they’re in place, we’ll see blockchain penetration in the games industry make large strides, and begin to see mass adoption.

Forte has been backed by Ripple last year by $100 million funding to blockchain game development. The unusual fact received lots of surprising reactions as the company behind XRP cryptocurrency is primarily focusing on traditional banking. The step is believed to show the company’s belief that there is a future in the gaming area.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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