When the video games industry was still in its infancy, games were primarily used as a form of entertainment. Today, games are entrenched in virtually every facet of society, from education to research to even fitness. Entirely new industries have emerged from games, including competitive esports and online game streaming.
In addition, whether serving as a new medium in an established industry, or as the cornerstone to a new one, games play an integral part in the economy and in the livelihoods of an ever-growing population. Hundreds of thousands of people in the U.S. alone are employed by companies in the game industry, with millions more having an economic connection to games in one form or another.
At Forte, we believe blockchain technology will unlock a new wave of economic and creative opportunities for players, developers, and entrepreneurs. The technology’s unique properties map perfectly to the digital nature of games and enable the secure ownership of in-game digital assets, thereby laying the foundation for groundbreaking blockchain- and crypto-native marketplaces and services for the games industry.
The new economic opportunities in games that will surface from blockchain technology have the potential to transform the industry in powerful, positive ways through more open infrastructure, more equitable business models, and the inherent security that the technology offers. That’s why Forte is building a comprehensive suite of community-focused tools and services for game developers that enables them to easily integrate the benefits of blockchain technology into their games.
But to fully realize the potential that blockchain technology offers, the games industry needs clear and, importantly, well-informed regulatory guidelines. With the proper level of regulatory clarity and understanding, game developers can implement blockchain technology and associated economic frameworks in ways that benefit all participants in the games industry — and ancillary ones — in a secure and compliant manner. This is an end we’re fully committed to reaching. To help us get there, we’re thrilled to announce that Forte has joined the Blockchain Association as its first member directly representing the games industry.
The Blockchain Association helps to educate and inform policymakers on the benefits of blockchain technology, and advocate for policy that addresses regulatory priorities while also cultivating and embracing technological innovation — all through a unified voice that represents the blockchain industry as a whole. By being a member of the association, Forte can help ensure that the games industry is represented authentically, the player community has the proper consumer protections in place, and individuals will have the freedom to positively impact their lives through digital asset ownership and participation in breakthrough marketplaces and blockchain networks.
The days are early, but we’re deeply committed to collaborating with policymakers for the long-term to help ensure that a vibrant, sustainable, and secure blockchain ecosystem will emerge for the games industry — and our society at large.