The so-called “crypto winter” has slammed industry participants en-masse. But, there has been one firm that has been seemingly been left unfazed. The San Francisco-based Ripple Labs was recently revealed to have made a purportedly cash-only $100 million deal with a blockchain gaming upstart, which intends to build out a web of decentralized applications built by gamers, for gamers.
Ripple’s Xpring Initiative Joins Hands With Forte
VentureBeat reports that Forte, a gaming firm that launched mere weeks ago, has joined hands with Ripple, through the Xpring initiative. This partnership will see the two entities create a venture fund, which will invest in gaming startups with blockchain facets (or plans to integrate blockchain) in a bid to spark adoption and innovation.
Forte’s team, which consists of former members of Kabam, Unity, and other mainstays in the gaming realm, will run this fund alongside the creation of open-source solutions and platform technologies. Speaking on the value proposition of blockchain in gaming,…