FTX Starts Gaming Unit to Promote Crypto Adoption: Report
"There are 2 billion-plus gamers in the world who have played with and collected digital items, and can now also own them."
Feb 21, 2022 at 12:54 p.m. UTCUpdated May 11, 2023 at 5:55 p.m. UTC
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Crypto exchange FTX is starting a new gaming unit aimed at encouraging game publishers to embrace cryptocurrencies, according to a Bloomberg report on Monday.
- FTX Gaming will offer a "crypto-as-a-service" platform, which will allow gaming companies to launch tokens and offer support for non-fungible tokens (NFT). It will operate the service through its U.S. affiliate FTX U.S.
- NFTs are digital assets on a blockchain that represent ownership of virtual or physical items.
- Gaming is an "exciting use case for crypto," an FTX spokesperson said via email, according to Bloomberg's report.
- "There are 2 billion-plus gamers in the world who have played with and collected digital items, and can now also own them."
- According to DappRadar, there were 398 active blockchain games as of January 2022, up 92% from a year previously.
- FTX was not immediately available for comment when contacted by CoinDesk.
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Jamie Crawley is a CoinDesk news reporter based in London.