Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

One of Ripple’s Largest XRP Investments Envisions $30 Billion Virtual Economy Powered by Crypto

by Daily Hodl Staff
May 29, 2020
in Blockchain, Ripple and XRP
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Josh Williams, CEO of the Ripple-funded blockchain gaming company Forte, envisions a world where the economy of a single video game could dwarf the entire music industry.

In a lecture at Andreessen Horowitz’s Crypto Startup School, Williams explains how blockchain technology and smart contracts can be used to revolutionize in-game economies.

He notes that developers today are just acting as merchants, one-directionally selling players goods for real-life currency. With Forte’s technology, however, the ownership of digital goods and currency can be stored on the blockchain, granting players decentralized control over their own in-game assets. This gives players actual cash incentives to acquire in-game content they could potentially sell later at a profit.

In turn, Williams explains, developers could find themselves at the wheel of an actual in-game economy, gaining several potential new revenue streams as a result. Developers could establish a fiscal policy and tax player transactions, and they could also store a reserve of in-game assets to sell if the economy takes off.

“If you step back and put all these pieces together, you’re creating a market economy inside of games, instead of a command and control economy or just a pure merchant economy, which is the case in games today. And market economies are how the world works today, and the world’s economy is much bigger today than it was in the past. The same thing will happen in games.”

A single hit game could theoretically establish a massive real-world economy, the CEO adds.

“There are games like Fortnite today that have hundreds of millions of players that play them every single month. And those games are wildly successful – the most successful games that have ever been created are being created today.

But they do a couple billion dollars a year in revenue at their peak today, which is massive. But if you think about it, if you had a game that incorporated blockchain technology to create a real market economy for players inside of the game, and you got just a million players that were earning just a minimum livable wage, like say $30,000 a year, inside of the game because you created this rich economy, then that game would have a $30 billion-a-year economy, which would be by far the biggest game that’s ever been created, with only a million players… And that on its own would be larger than the entire global music industry. 

In early 2019, Ripple’s investment arm Xpring and Forte formed a $100-million fund to bring blockchain gaming to the mainstream.

The fund’s goal is to integrate blockchain technology and XRP into existing games with more than 50,000 daily active users.



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • How Traders Are Gaining by Holding Crypto: Staking Tron (TRX) and Cardano (ADA)
    January 21, 2021
  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
Submit a Guest Post
Bitcoin
$32,867.00
$32,867.00
6.71%
Ethereum
$1,240.24
$1,240.24
10.4%
XRP
$0.271176
$0.271176
1.73%
Litecoin
$137.22
$137.22
6.85%
Bitcoin Cash
$441.75
$441.75
6.54%

Spotlight

  • Crypto Analyst Nicholas Merten Says Altcoin Cycle Has Arrived, Lists Top Picks Poised to Outpace Bitcoin
    January 19, 2021
  • Ripple Executive Says He Recovered Massive Bitcoin Stash Lost in Crypto Casino
    January 16, 2021
  • Airdrop Madness Coming in 2021, Says Crypto Trader – Here’s How to Prepare for Potential Deluge of Free Crypto
    January 20, 2021
  • Unprecedented Crush of Wealthy Investors Are Flocking to Bitcoin, According to On-Chain Analyst Willy Woo
    January 17, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.