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Dario_o

A Big Bet on Blockchain and Gaming: Ripple and Forte Announce $100 Million Fund

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I really like this attack angle from Xpring.  The current gaming industry has been heavily evolving into a micro payments marketplace.  They've also heavily driven the surge of growth around digitally purchasable software over the last decade.  While it's still fairly early in terms of adoption, the idea of "streaming" as a profession has also been surging in the video game space.  I know I follow a few professional players on twitch where the "stream" boils down to a mix of high quality game play and talk radio.  This kind of investment by Ripple might get Coil really moving in the stream space as well, though it's worth keeping in mind that "subscriptions" in the video game stream world are still quite low compared to other types of stream markets.  But who knows what it'll look like in 10 years...

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Wow, Ripple is aggressively pursuing this use case.  I know other cyrpto projects are as well.  I also like the project is going to incorporate ILP, which should make it currency agnostic, as well as Codius.

Quote

As for Forte, the company is relying heavily on technology developed by Ripple, including the Interledger Protocol, an open source protocol for conducting transactions across different blockchains, and a smart contract service known as Codius.

For Ripple, the $100 million development fund represents an attempt to expand its blockchain services beyond its core business of financial messaging software. At the same time, in the event gaming platforms decide integrate the Interledger Protocol, it could spur the broader adoption of the cryptocurrency XRP.

According to Beard, Ripple’s Xpring will distribute the grants to game developers in the form of XRP, though he acknowledged most recipients will likely convert them to U.S. dollars given that services like AWS only accept fiat currency.

In terms of distributing the grants, Forte and Ripple say they are targeting game developers with over 50,000 daily active users. Beard added that big and small companies will be eligible to receive grants, and that some of the grants could be worth millions of dollars.

 

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3 minutes ago, Sebastian said:

Wow, Ripple is aggressively pursuing this use case.  I know other cyrpto projects are as well.  I also like the project is going to incorporate ILP, which should make it currency agnostic, as well as Codius.

 

You beat me to it, literally to the word!  I have to admit when I saw the headline and gaming I wasn't really excited.  I have no personal interest in gaming but it is big business and this will be yet another avenue for diversification.  I love that andreesen and other prominent investors are involved along with big $.  Certainly one to follow.  

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I wonder when these funds will be distributed and if there are stipulations on how much they can sell at a time. 100 million dollars in XRP is a sh!t load. I’m sure Ripple has something in place, or at least I hope so!!!!!!

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Posted (edited)

Ripple has always been generous with donations and grants to expand the XRP ecosystem, but I think this is actually the first time that they have used XRP to my knowledge. Am I wrong on this? That is 322,580,645 XRP (@ .31) that could be potentially dumped on the market. There has to be stipulations in place. 

Edited by Gangus

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1 minute ago, Gangus said:

Ripple has always been generous with donations and grants to expand the XRP ecosystem, but I think this is actually the first time that they have used XRP to my knowledge. Am I wrong on this? That is 322,580,645 XRP that could be potentially dumped on the market. There has to be stipulations in place. 

Pretty sure they have provided investments to others in xrp as well

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They've definitely invested in other companies using XRP. Also, do we know that Ripple or Spring provided the entire 100 million? That seems unlikely given all the other investors mentioned in the article. 

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