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.
“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.”
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.