- The CEO of One of Ripple’s Largest XRP Investments Talks About the Future of a $30 Billion Crypto-powered Virtual Economy
- XRP Price Remains in Green But the Token Still Can’t Retest the $0.2000 Level
Ripple News Today – Cryptocurrencies are the most diverse virtual currencies. Ripple is one of the best and most popular companies working on creating a virtual economy. Recently, Josh Williams, the CEO of Forte, one of Ripple’s funded companies, talked about a cryptocurrency-powered virtual economy worth $30 Billion. According to Williams, this economy will be fueled by a video game that is allegedly going to cripple the existing gaming industry. Williams made this comment during his recent lecture in a Crypto Startup School called Andreessen Horowitz’s.
Ripple News Today – What do Expect From the $30 Billion Virtual Economy Powered by Cryptocurrency
Josh Williams notes that developers now act as merchants. They are offering digital goods in exchange for currency just like in Forte. The digital currency can be stored on the blockchain and ownership will be decentralized so to say. Players will be able to get cash incentives when they sell the digital currencies they earn online. The cash can be used to purchase in-game content. They can sell the content anytime they want and make a profit out of it.
XRP (XRP) Price Today – XRP / USD
According to Williams, game developers will be at the wheel of the in-game economy through which they will gain significant revenue over time. They can even implement tax player transactions and fiscal policy just like in the regular economy. In-game assets can be stored in their reverse for subsequent sale when the virtual economy takes off. In Williams words;
“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. There are games like Fortnite today that have hundreds of millions of players that play them every single month. And those games are wildly successful – the most successful games that have ever been created are being created today.”
Ripple has had an interest in creating this virtual economy since 2019 when Xpring, in collaboration with Forte, formed a $100 million fund dedicated to the mainstreaming of blockchain gaming. The fund had been working on integrating Ripple XRP into already existing games that have over 50,000 active users daily. This is going to eventually lead to a surge in the price of XRP which has been struggling against the USD. At the time of writing, the price of the token was struggling to retest the $0.2000 level which it lost days ago.