certify
Home arrow Article arrow Article Detail

FTX Launches Gaming Unit to Offer Crypto Services

Profile Image

Joyashree Dey Follow

INDIA

Feb, 23 2022

Feb, 23 2022

likes | comments 0

Article Image

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.


likes | comments 0

Profile Image

Joyashree Dey

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
Robinhood Delists Cardano, Polygon and Solana Following SEC Labeling Them As Securities

Following this week's accusations filed by the US Securities and Exchange Commission against two significant cryptocurrency exchanges, the brokerage business Robinhood has chosen to delist few firms;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.