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FTX Starts Gaming Unit to Promote Crypto Adoption: Report

FTX Starts Gaming Unit to Promote Crypto Adoption: Report

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."

"There are 2 billion-plus gamers in the world who have played with and collected digital items, and can now also own them."

"There are 2 billion-plus gamers in the world who have played with and collected digital items, and can now also own them."

By Jamie Crawley
AccessTimeIconFeb 21, 2022, 12:54 PM
Updated May 11, 2023, 5:55 PM
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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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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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