Forte, a company co-founded by Kabam founder Kevin Chou and Kabam’s COO Kent Wakeford, attracted top game developers at the Game Developer Conference held in San Francisco, California.
In a fireside chat with Modern Consensus’ Martine Paris, Kent Wakeford discussed a wide range of topics ranging from the partnership with Ripple to the future of blockchain in the gaming industry.
Wakeford explained that even though games like Fortnite were making billions in revenue, there was a future for gaming in blockchain and added that “gaming was going to be a killer application for blockchain”. Illustrating the same, he added:
“A good example is CS:GO. They sell about $400 million a year in skins. It’s a sizable market, they make a great amount of revenue from it, and it’s a very healthy economy. The aftermarket [secondary markets] of trading of CS:GO skins is $1.2 billion, the developer typically doesn’t get a cut, but with smart contracts on the blockchain you can set rules for trading where the developer can take whatever percentage they want.”
He further said that with blockchain, the provenance of every item could be tracked even in the aftermarkets, which would be helpful for game developers and players. Wakeford said that this would create a new form of gaming dynamics, leading to the rise of peer-to-peer economies.
Speaking about Mythical Games on EOS blockchain, Wakeford added that he was an advisor for them even though they were partnered with “Ripple on the fund”. He added that they [Forte] were agnostic to all first-level protocols; whether people wanted to build on Ethereum, Tron, EOS or any other blockchain platform.
In addition, Wakeford said that they wanted developers to focus on making great games and develop great game economies by taking away the challenge and complexity to “make blockchain seamless in the background”.
Moreover, talking about Ripple, Wakeford said:
“Ripple believes that consumer behavior and mass market adoption of blockchain and crypto is likely to first come from the gaming community. Through our platform we are having XRP as a settlement currency for when people trade or sell NFTs Non-Fungible Tokens]… We are also leveraging Ripple’s Interledger technology which allows for some nice advancements in smart contracts. “
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