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FTX launches new gaming arm with NFT support

Popular cryptocurrency exchange FTX has plans to launch a gaming unit to offer major gaming publishers support for non-fungible token (NFT) integration and other blockchain-based collectibles.

FTX will provide Web3 operability for game studios

Bloomberg reported that the company will release its gaming outfit in the coming months. The so-called FTX Gaming unit is set up to function as a “crypt-as-a-service” platform for major game studios. In addition, the service will support NFTs and allow companies to launch digital tokens to players.

According to the report, the foray into gaming marks a strategic move for the exchange in its bid to encourage the adoption of blockchain technology and digital assets by game publishers. The Bahamas-based company believes that decentralized systems can play a key role in the future of gaming, according to the report.

In addition, the company's American affiliate will oversee its new gaming unit. Two job listings aimed at hiring experts in software engineering and Unity game engine development were also published in early February.

Commenting on the launch of FTX Gaming, a spokesperson for the exchange said:

“We are launching FTX Gaming because we see gaming as an exciting use case for cryptocurrencies. There are over 2 billion players in the world who have played and collected digital items and can now own them too.”

The announcement is in line with previous comments from FTX employees about expansion plans for 2022. FTX US President Brett Harrison tweeted in January that the company considers the gaming industry a key point of interest. Harrison added that FTX plans to integrate NFT, cryptocurrency trading, and wallet technology directly into large-scale gaming economies.

CryptoPotato previously reported that FTX has partnered with Solana Ventures to launch a $100 million blockchain gaming fund. It aims to support game studios focused on the integration of decentralized technology.

“NFTs as a Service”

In fact, the high technical requirement to deploy certain protocols can be a challenge even for established corporations when it comes to enterprise blockchain adoption.

Native crypto companies like FTX, borrowing from the software-as-a-service (SaaS) model, have created custom enterprise-grade blockchain applications that enable mainstream organizations to embrace emerging technology and meet the demand for contemporary product offerings.

As the metaverse becomes a fixture in pop culture, more companies may look to companies like FTX for interactive decentralized solutions they can deploy, rather than relying on their in-house expertise.

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I am CBC, I am a Crypto expert and a part-time blogger. I usually write about how and where to buy crypto coins in legit ways.

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