FTX Announces Launch of a Gaming Unit

Bahamian cryptocurrency exchange FTX has announced the launch of a new ‘gaming unit.’ This move was initiated to encourage game publishers as well as developers to embrace digital assets and nonfungible tokens (NFTs). FTX Steps Into the Gaming World The initial offering for the new gaming division by FTX will be a ‘crypto-as-a-service’ platform through which game producers can launch tokens and support in-game NFTs. According to a report by Bloomberg on Monday, the game would likely be operated through the American brand of exchange – FTX U.S. A spokesperson representing the firm said: “We are launching FTX Gaming because we see games as an exciting use case for crypto. There are 2 billion+ gamers in the world who have played with and collected digital items, and can now also own them.” The global gaming industry is anticipated to top a value of $300 billion this year, and it is linked to digital items and currencies that can be collected, used, or traded in-game. FTX intends to harness this symbiotic relationship by developing a platform that allows game producers to launch their tokens. The company claims that by November of this year, they will be able to invest $100 million with partners to incorporate Solana blockchain within a video game. Howbeit, the recent few months have observed the network that was once called ‘Ethereum killer’ beset by performance and outage issues. While game developers and crypto firms view this ...