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HomeNFTCryptocurrency exchange FTX is launching a new gaming division to provide support...

Cryptocurrency exchange FTX is launching a new gaming division to provide support for NFTs

Exchange of cryptocurrencies FTX has made the decision to launch a new gaming division. FTX Gaming plans to provide a cryptocurrency-as-a-service platform. As a result, gaming firms will be able to create and launch their own tokens, as well as provide support for non-fungible tokens. It’s a goal of FTX Gaming to get the crypto and gaming industries to work together by introducing this new tool.

This will ensure the development of these sectors as well as their growth. The merger of the crypto and gaming industries might give players greater control over the items they acquire while gaming via digital tokens and NFTs. A team of software engineers who have worked with the Unity game engine have been hired by FTX’s unit.

According to the DappRadar report, there were 398 active blockchain games in January 2022, representing a 92% increase over the previous year.

However, Amy Wu, the leader of FTX’s $2 billion venture capital fund, has taken a neutral stance on the P2E gaming business. Wu believes that it is too early to comment on the impact of play-to-earn games until more companies introduce games with digital assets.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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