FTX US, a leading cryptocurrency exchange affiliated with an American Company, Sam Bankman-Fried’s crypto exchange, has announced plans to launch its gaming unit. FTX is entering the gaming world. Earlier it was aimed mainly at sports and gaming partnerships, now launching its gaming unit FTA Gaming. Bloomberg was first to report it.
“We are launching FTX Gaming because we see games as an exciting use case for crypto. There are 2 billion+ gamers in the world who have played with and collected digital items and can now also own them.”Bloomberg Spokesperson
According to the statement, FTX Gaming will provide a “crypto-as-a-service” platform and offer crypto-related services to traditional gaming companies. This will enable gaming companies to focus on development, and FTX will take care of token launches and commercialization of Non-Fungible Tokens (NFT).
At the start of this month, FTX US posted for hiring against two job openings of software engineers with experience in the C# programming language and the Unity game engine, which is developed by Unity Technologies.
Entering into the gaming world came after the FTX’s announcement in November that it will invest $100 million together with two partners, Lightspeed Venture Partners and Solana Ventures, into blockchain video games.
The move got a quick reaction from the people. Some cite this introduction of NFT as a cash grab, while the other set of people believe that the use of NFTs will burden the environment due to the energy consumption associated with their usage. On the other hand, industries say that digital tokens and NFTs will provide players with more ownership over the items they earn while playing. However, Ubisoft is still pushing to see these elements integrated into their franchises.
About FTX US
FTX US is a cryptocurrency exchange built by traders for traders. FTX offers innovative products, including industry-first derivatives, options, volatility products, and leveraged tokens. It strives to develop a robust platform for professional trading firms and intuitive enough for first-time users. FTX US offers BTC, LTC, ETH, BCH, PAXG, and USDT with a significantly more built-out feature base than any other major US platform. It has seamlessly integrated Stablecoins with USD to aggregate liquidity and ease of use.