The San Fran based Forte has just been given $100 million by Ripple to invest in Blockchain gaming companies. Gaming is seen as an attractive sector for Blockchain and Digital Assets because it is a $140Billion industry and growing fast.
The Chinese company Tencent, which distributes some of the most played games in the industry and is the largest video game company in the world based on game sales, has been an active buyer of online gaming companies. It offers an exit to many emerging firms in the gaming sector and, according to UBS, looks to be well positioned as it expects the gaming industry in China to grow to three times its current size by 2030.
“Blockchain technologies’ key innovations unlock vast potential for nearly all forms of digital interaction. Gaming is a $140 billion global industry driven predominantly by digital microtransaction economies, which we believe will benefit immensely from the integrity and resilience of blockchain technology,” said Brett Seyler, the chief platform officer at Forte, in a statement.