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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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
Crypto News – 25 May – Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
— AMBCrypto (@CryptoAmb) 25 May 2019
Daily Crypto News – May 25
1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.
Read more at https://bit.ly/2VRQwb0
2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.
Read more at https://bit.ly/2W40sTR
3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.
Read more at https://bit.ly/2X6fdlw
4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.
Read more at https://bit.ly/2McaTjE
5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.
Read more at https://bit.ly/2wmk4mJ
6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.
Read more at https://bit.ly/2HUEnNB
7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.
Read more at https://bit.ly/2W64KKj
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