A year ago, Ripple launched Xprings , a grant network for developers to transform cash flow through blockchain technology. Over the past few months, Xprings has undergone considerable growth.The startup has poured thousands of millions into blockchain enterprises in a bid to push for the adoption of XRP.
The startup states in its official website, that it aims to build innovative infrastructure and transform the Blockchain. Xprings, usually pronounced as (springs) brought on board teams of developers, entrepreneurs and startups that were interested in transforming the financial world. Essentially, these teams consist of interested game changers who want to impact open source crypto protocols.
The Springs mission is based upon three core values – Interoperability, Payments and decentralized finance. The website goes on to state that the startup only works with the best teams. Only those teams that can blend real world traction with creative vision.
Last month, Xprings partnered with Forte, a blockchain gaming platform and both created a $100 million fund to carter for developers across the gaming industry. The gaming industry is worth $140 billion and Xprings plans to fuel mainstream adoption of blockchain technology in gaming.
Xprings is Investing in Gaming
The $100 million fund comes from Ripple as they later announced they look forward to having Forte manage the funds. The Forte platform streamlines the use of Blockchain technology to create amazing games. According to a press release, the fund only targets.
‘game developers operating live game economies with over 50,000 daily active users’
The recent investment bid on Forte represents the considerable growth that Xprings has experienced during the past few months. Currently, the company has committed up to $500 million to support over 20 blockchain enterprises. In fact, the Forte system will integrate a payment system in its games that will users make settlements using XRP. It is therefore clear that the investment could go a long way in setting the stage for mass adoption of XRP.
Imgur Micro-payment System
Another vital startup worth mentioning; that Xprings has dipped its millions into is Imgur. Imgur has implemented a blockchain driven technology called Coil – to deploy payment for content creators. Currently, Imgur commands a following of over 150 million users and the platform expects this number to grow. In mid june, Xprings invested more than $20 million with Imgur.