FTX Launched New Gaming Branch With NFT Support: Report

FTX launched new gaming branch with NFT support for all gaming studios that are looking to incorporate crypto-collectibles in their titles so let’s read more in our latest cryptocurrency news.

FTX has plans to launch a gaming unit and to offer mainstream gaming publishers support for NFT integration as well as other blockchain-powered collectibles. The reports show that the company will launch a gaming outfit in the upcoming months so the FTX Gaming unit will function as crypto as a service platform for mainstream game studios and also the service will offer support for NFTs and will allow companies to launch digital tokens for all gamers.

According to the report, the foray into the gaming space marks a strategic move for the crypto exchange in a bid to incentive the adoption of blockchain and digital assets by game publishers. The company also believes that decentralized systems could play a pivotal role in the gaming world. The company’s American affiliate will oversee the new gaming unit accoridng to the two job listings greeted towards hiring more experts in software engineering and Unity game engine development were published earlier in February. Commenting on the launch of FTX Gaming, a spokesperson for the exchange 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 announcement aligned with previous comments made by FTX officials about their expansion plans for 2022. The president of FTX US Brett Harrison said that the company will consider the gaming industry as the key point of interest. He added that the exchange will integrate NFT, crypto trading, and wallet technology right into gaming economics at a massive scale. The previous reports show that the FTX partnered with Solana Ventures for the launch of a $100 million blockchain gaming fund with more plans to support gaming studios’ focus on integrating decentralzied technology.

FTX launched a new gaming branch and will also work on deploying certain protocols which can be a challenge even for the established corporations when it comes to blockchain adoption. Companies such as FTX borrowing the software as a service model created an enterprise-grade blockchain application that allows mainstream organizations to adopt the technology and match the demand for the product offerings. With Metaverse becoming a fixture today, more companies are looking to companies like FTX for interactive decentralized solutions which can be developed by themselves rather than relying on their in-house expertise.