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Crypto exchange FTX is entering the NFT-focused gaming world

FTX


TL;DR Breakdown 

  • Popular crypto exchange FTX is launching a gaming division. 
  • The new gaming unit will operate under the company’s US branch. 
  • It will aim to influence the wider adoption of crypto and NFT among gamers and developers. 

One of the largest crypto exchanges in the world, FTX has announced the launching of a new gaming division to influence wider NFT adoption. This new gaming unit will operate as a ‘crypto-as-a-service’ platform. With this launch, FTX wants to officially enter the gaming industry, and influence gamers and developers to adopt NFTs and digital assets. 

According to official reports, the new gaming unit will operate under the US branch of FTX (FTX.US). Previously the platform had opened its dedicated NFT unit. The exchange has been continuously pushing for wider crypto and NFT adoption in the US market with sports partnerships and frequent advertisements. The platform has recently started a Bitcoin giveaway contest in the US to bring more users into the crypto space 

FTX

Why is FTX entering the gaming industry? 

According to an FTX spokesperson, gaming is already one of the most exciting industries that integrate efficiently with crypto. The gaming industry holds massive potential for crypto and NFT, as more than 2 billion gamers are already engaged with digital assets. According to the recent reports from DappRadar, there are currently almost 400 blockchain games active as of today. Compared to last year, it’s a 90% increase. 

These are some of the core reasons why FTX is strongly entering the gaming industry. We’ve already seen major blockchain and crypto ecosystems integrating into the gaming space. With Metaverse and NFT dictating the headlines since last year, developers are constantly looking for opportunities to integrate digital assets with upcoming games. 

FTX

FTX exchange will be holding a webinar on Wednesday, February 22nd to discuss further details about their brand new gaming division. With this initiative, FTX might become the first-ever major crypto exchange in the US to have an exclusive gaming unit. 

Mohammad Shahid

Mohammad Shahid

An IT and Cybersecurity graduate with specialized knowledge of cryptocurrency and blockchain, Mohammad joins the Repo elite team. He has worked on several blockchain development projects and is an enthusiastic crypto trader.

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