FTX Starts Gaming Unit to Promote Crypto Adoption: Report

FTX Starts Gaming Unit to Promote Crypto Adoption: Report
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FTX Starts Gaming Unit to Promote Crypto Adoption: Report

Crypto exchange FTX is starting a new gaming unit aimed at encouraging game publishers to embrace cryptocurrencies, according to a Bloomberg report on Monday.

  • FTX Gaming will offer a “crypto-as-a-service” platform, which will allow gaming companies to launch tokens and offer support for non-fungible tokens (NFTs). It will operate the service through its U.S. affiliate FTX U.S.
  • NFTs are digital assets on a blockchain that represent ownership of virtual or physical items.
  • Gaming is an “exciting use case for crypto,” an FTX spokesperson said via email, according to Bloomberg’s report.
  • “There are 2 billion plus gamers in the world who have played with and collected digital items, and can now also own them.”
  • According to DappRadar, there were 398 active blockchain games as of January 2022, up 92% from a year previously.
  • FTX was not immediately available for comment when contacted by CoinDesk.

Read more: How to Pick the Right Play-to-Earn Game for You

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