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.
The merging between crypto and gaming industries could provide digital tokens and NFTs to gamers with more ownership over the items they earn while gaming. FTX’s unit has begun hiring a remote team of software engineers with experience in coding in the game engine Unity.
Growing Investment In The Gaming Sphere
November 2021, FTX had announced a $100 million GameFi ecosystem fund in partnership with Solana Ventures and Lightspeed Venture Partners. As mentioned above by FTX, games make an exciting use case for crypto and this sentiment has been reflected by the inflow of investments into the gaming industry. Major tech giants have invested heavily in the developing play-to-earn (P2E) gaming ecosystem.
According to a report by DappRadar, it was mentioned there were 398 active blockchain games as of January 2022 which marked a 92% appreciation compared to the previous year.
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FTX’s New Development Comes Amidst Criticism From Gamers
FTX’s newest decision has been subjected to criticism despite the larger trend favoring the gaming industry. Increasingly with time, gamers, fans, and even developers have criticized the play-to-earn model which…
