FTX Creates a Gaming Division to Introduce Cryptocurrencies and NFTs

Cryptocurrency exchange FTX is launching its own gaming division, which aims to encourage game publishers to use cryptocurrencies, blockchain networks and non-fungible tokens.

Gaming companies will be able to launch tokens and offer NFT support

FTX Gaming, operating through its US subsidiary FTX, has debuted a “crypto-as-a-service” platform through which gaming companies will be able to launch tokens and offer NFT support. This month, the division began hiring a fully remote team of software engineers with experience coding on the Unity game engine.

The entry into the gaming industry follows FTX’s November announcement that, along with two partners, it will invest $100 million to integrate the Solana blockchain into video games. First of all, we are talking about games with the “play to earn” mechanics.

We are launching FTX Gaming because we see gaming as an exciting use case for cryptocurrency,” said an FTX spokesperson. “There are over 2 billion gamers in the world who have played and collected digital items and can now own them.

Proponents of a merger between the crypto and gaming industries say that digital tokens and NFTs give players more ownership of the items they earn while playing. Opponents have criticized publishers for pushing games into a space rife with fraud, financial crime and a huge carbon footprint. In their opinion, making the pursuit of profit the main goal, they deprive users of the pleasure of the game.

Late last year, French publisher Ubisoft Entertainment SA, creator of the Assassin’s Creed franchise, came under fire for a plan to launch the Ubisoft Quartz platform, which would allow Ghost Recon players to buy and sell in-game items in the form of NFTs. Since then, the volume of negative sentiments has practically not decreased.

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