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FTX Launches Gaming Unit to Offer Crypto Services
Feb, 23 2022
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Cryptocurrency exchange
FTX is launching a gaming unit prone to be a "crypto as a service" platform
through which game gaming companies can launch tokens and offer help for
in-game NFTs in the gaming world, as per a Bloomberg report published on February
21.
“We are
launching FTX Gaming because we see games as an exciting use case for crypto,”
an FTX spokesperson told Bloomberg via email. “There are 2 billion+ gamers in
the world who have played with and collected digital items, and can now also
own them.”
The new gaming
group from FTX is an indication of the proceeded push to bring blockchain-based
items into the gaming space, as shown by projects like GameStop's own NFT marketplace.
However, game developers and retailers see crypto tokens and NFT things as a
promising income stream, gamers have voiced far and wide wariness over the
requirement for blockchain technology.
In the last couple
of months, different game publishing organizations have been compelled to drop
proposed NFT projects after the fan backfire, which has to a great extent
sprung from resistance to new forms of premium downloadable content that is
viewed as offering minimal additional worth to players. Other blockchain critics
bring up that there are now many laid out business sectors for the exchange of
in-game things, making the offer of cryptocurrency connections not clear.
For the FTX
trade, the endeavor to fabricate joint efforts with game developers is one more
prong of its invasion into the social space. The organization was behind the
new launch of an NFT marketplace for the Coachella festival, where photos,
banners and lifetime passes to the celebration were sold as NFTs. The audience
of the 2022's Super Bowl will likewise have seen advertisements from FTX, which
was one of the numerous crypto organizations competing for the focus of
football fans.
By closing a
$400 million funding round in January 2022, the organization has become one of
the most significant private crypto firms on the planet, and cases to be the
third-biggest trade by exchanging volume.
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Joyashree Dey
CBW - External Analyst
INDIA
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