FTX enters the world of gaming with FTX Gaming

FTX enters the world of gaming with FTX Gaming

The American cryptocurrency exchange platform FTX, has decided to encourage the adoption of cryptography and non-fungible or NFT tokens in the gaming universe. As part of this, it has announced that it will form a new team of developers dubbed FTX Gaming.

Conquering game publishers

FTX’s new unit is supposed to promote this platform “as a service”. It is a question of allowing game companies to use cryptocurrencies, blockchain and NFTs, directly in the game. This, with a view to conquering a large audience.

“We are launching FTX Gaming because we see gaming as an exciting use case for cryptocurrencies. There are over 2 billion gamers worldwide who have played, collected and now owned digital items,” explained a spokesperson for the company, according to Bloomberg.

FTX has been preparing its conquest in the world of Gaming for a few months already. In November 2020, the platform had signed a collaboration with Solana Ventures and LightSpeed. An agreement thanks to which it managed to raise $100 million for the development of the GameFi ecosystem on the Blockchain Solana.

More recently, in January 2022, the Coinbase competitor launched an investment fund with a capital of $2 billion, to promote the adoption of Web 3.

Read also: FTX’s value rises extremely high after a new fundraising

In minefield

FTX Gaming will join a world where skepticism and hostility reign towards NFTs. Gamers are hesitant to embrace this digital asset class. Companies like Ubisoft have already had bitter experience of this. At the end of 2021, the game developer announced the launch of its “Ubisoft Quartz” platform, to offer NFTs as game elements, in Ghost Recon Breakpoint. But the project did not appeal to the gaming community, which strongly opposed it. A failure.

Last January 31, the game publisher Team17 in turn announced the “MetaWorms” project, intended to integrate NFTs into its Worms series of games. Here again, the reception was no better than that reserved for Ubisoft. The project only lasted 24 hours.

Nevertheless, FTX US is aware of the challenge ahead. Speaking on the subject, the firm’s president, Brett Harrison, told The Verge that blockchain can build on existing gaming functionality without hurting the experience of players who are hesitant to adopt it.

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