The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
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
[the_ad id="93550"]

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.

[the_ad id="95413"]
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

Industry Announcements

  • Binance Launches Free Tax Tool To Provide Tax Details for Crypto Transactions in First Step of Global Launch
    February 6, 2023
  • BlockJoy Secures Nearly $11 Million From Gradient Ventures, Draper Dragon, Active Capital and More To Launch Decentralized Blockchain Operations
    February 2, 2023
  • Peer Acquires Elite Team of Engineers Behind Zenly’s Popular 3D Maps
    February 1, 2023
  • Sign Up Today for the TRON Grand Hackathon aka HackaTRON Season Four
    February 1, 2023
  • MegaWorld Land Gameplay on BNB Chain Starts February 15, 2023
    February 1, 2023
  • Web 3.0 Hackathon on Astar Sponsored by Toyota Motor Corporation
    February 1, 2023
  • Match-Trader White Label by B2Broker Gives Brokers a Comprehensive Online Trading Platform With B2Core Integration
    February 1, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$22,957.15
$22,957.15
0.86%
Ethereum
$1,634.77
$1,634.77
0.65%
Cardano
$0.387928
$0.387928
0.8%
XRP
$0.396271
$0.396271
0.94%
Dogecoin
$0.091037
$0.091037
1.08%

Spotlight

  • Bitcoin and Ethereum Whales Move $743,000,000 in Crypto in Three Massive Transfers
    February 4, 2023
  • Is Solana Following Ethereum’s Early Days? Top Trader Compares SOL and ETH, Updates Stance on Crypto Markets
    January 30, 2023
  • Bitcoin, Solana and Additional Ethereum Rival Have Higher To Go, Says Top Crypto Analyst – Here Are His Targets
    February 2, 2023
  • Whales Abruptly Move $202,000,000 in XRP and Ethereum-Based Altcoin Project – Here’s Where the Crypto Is Now
    February 5, 2023
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.
Featured Image: Shutterstock/Billion Photos

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 •
Futuremash •
Industry Announcements

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

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • 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 Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl