FTX launches a gaming unit to promote crypto adoption amongst gamers

February 22, 2021

By Tiasha Chatterjee

FTX, a privacy-focused crypto exchange platform, has decided to start its unique new gaming unit that will be aimed to encourage game publishers to adopt cryptocurrencies, blockchain networks, and non-fungible tokens, Bloomberg reported on Monday.

Here’s what we know so far:

  • FTX Gaming will present a platform for “crypto-as-a-service”, which will let gaming companies launch tokens as well as give support to non-fungible tokens (NFTs). This service will be operated through FTX Gaming’s U.S. affiliate FTX U.S.
  • The non-fungible tokens (NFTs) are digital tokens that exist in a blockchain and represent the ownership of physical or virtual items. This move will help game studios to integrate digital tokens and blockchain technology into the gaming industry.
  • The report from Bloomberg further added that a spokesperson from FTX said via email that gaming is an “exciting use case for crypto… There are 2 billion plus gamers in the world who have played with and collected digital items, and can now also own them.”
  • As per a news article from DappRadar, as of January 2022, there are 398 active blockchain games, which is up by 92% from the previous year.
  • FTX Gaming unit has already started to hire a fully-remote team from February 2022, looking for software engineers who have experience in coding in Unity, a game engine. This crypto exchange, owned by Sam Bankman-Fried, initially entered the gaming world following an announcement it made in November 2021, which declared that FTX will be investing USD 100 million along with two partners, to help promote the integration of the Solana blockchain into video games.

About the author

Tiasha Chatterjee is a content writer with a great curiosity to learn about new things. Combining this curiosity with her interest in the English language, she loves to write about different subjects, including blockchain. When not writing, you’ll find her surrounded by her cats, soaking up another book.

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