Tuesday, November 28, 2023

Report: FTX Launches Gaming Unit to Promote Crypto Adoption.

FTX, a known quantity in the crypto exchange world is poised to enter the gaming blockchain arena. The goal is to set up a unit to reach gamers and other mainstream audiences and encourage the adoption and use of cryptocurrencies. This news was reported by Bloomberg. According to a company spokesman, FTX is starting work in gaming as it is an area in which use cases for crypto can be made. With over 2 billion gamers worldwide, the demand for digital items and collections is bound to rise.

FTX’s gaming unit is set for launch via the company’s US subsidiary. FTX Gaming is also launching a platform for “crypto-as-a-service”. This platform will make it easy for gaming companies to carry out crypto operations easily. This includes token launches and supporting digital assets like NFTs.

According to the company, there is a big difference between games developed by crypto companies and those developed by traditional entities. This launch comes just a few moths after FTX, Solana and Lightspeed Venture Partners worked together set up a Web3 funding initiative for gaming worth $100 million. This particular initiative will offer support to gaming technology, studios and any projects that focus on the games/blockchain intersection.

In the last year, Axie Infinity and similar games on blockchain have become very popular. The number of players currently stands at 1 million users and close to 400 games. This data was gathered and made available by DappRadar. At the start of January 2022, the number of users rose to 1.5 million but later dropped to 1.09 million.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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