A new Blockchain gaming platform called Forte is seeking to revolutionize the games industry through the use of blockchain technology. The platform, which is now valued at $1 billion, plans to help users create, trade and store their own virtual currency in an anonymous, secure and decentralized manner. It also hopes to use its platform to develop a token economy based on the platform itself.
Mission to upgrade the games industry with blockchain technology
There is no doubt that the mission to upgrade the games industry with blockchain technology is an exciting one. With a recent increase of 2,453% in the number of wallets tied to gaming related activity, a better way to store and transfer digital assets has never been more important.
A good starting point for the path to the big prize is to make the most of the aforementioned numbers. For example, if you want to launch a game with a high success rate, you’ll need a secure platform to facilitate the purchase of virtual currency. This will allow you to maximize your investment.
The best way to accomplish this is to incorporate a smart contract. Smart contracts will ensure that the transaction is completed in a timely manner. You can use this type of system to store all of your digital assets in a single location, allowing you to access them at any time, not just when your game is in play.
Forte is a startup in San Francisco, California, that is building a blockchain-based gaming infrastructure. The firm has secured funding from a number of different companies. And the company has a strong team of experts in game development and design.
In May, Forte raised $185 million in Series A funding. Several companies participated in the round, including Sea Capital, Battery Ventures, Andreessen Horowitz, and Union Grove Venture Partners. Besides these companies, Warner Music Group also invested in the company.
Fortine’s platform enables developers to embed non-fungible tokens (NFTs) into their games. These tokens are used for in-game item purchases and to monetize between gamers. It also allows developers to create scalable token-based economies.
The Forte platform also provides anti-money laundering checks and built-in compliance products. This is important, because it helps game publishers ensure that their businesses and intellectual property are protected. Moreover, the firm ensures that customers can exit the system in a regulatory compliant manner.
Token economy designs
The team at Forte is working on a full-suite of solutions that aim to remove the barriers of combining games and blockchain technology. This includes a full suite of services for developers, a scalable token economy, and a seamless digital asset wallet experience.
Forte’s platform is currently in private beta. However, the company already has over 40 game developer partners and over 15 million players. It’s worth checking out if you’re a game developer or a player.
One of the most common features of a game with a token economy is the player purchase option. Tokens can be purchased directly by the player, or they can be purchased on external platforms. In addition, there are pre-sales and other types of tokens that allow traders to increase the value of a token before it’s used.
Other examples of a token-based economy are NFT marketplaces and dApps. While these might seem to be unrelated, they are actually playing an important role in the tokenomics of games.
Mining and transfer fees
Forte is a two-year-old gaming startup that raised $18 million in its first year. The platform now has over 15 million users. It’s a decentralized ecosystem that provides gamers with a secure, safe way to store, manage, and exchange their digital assets. This includes cryptocurrencies and game items.
The startup has created a wallet that can hold game tokens, as well as other cryptocurrencies. These wallets are cryptographically secure, and they can convert the cryptocurrencies into real-world currencies.
In addition to providing gamers with a secure way to use their favorite games, the startup also provides game developers with a secure, blockchain-based solution to manage their games. Using their technology, these game developers can mint non-fungible tokens (NFTs) and sell them. They can then give the buyer money instantly.
Forte’s technology is available to more than 25 game developers with over eight million players. The company plans to expand its products and services to help game publishers transition to a blockchain-based model.