FTX Enters Gaming as Backlash Grows Against Crypto’s Incursion

  • FTX is launching its own gaming unit to push crypto into the gaming industry. 
  • The gaming unit will appear as a “crypto-as-a-service” platform. 
  • The hiring for the gaming unit of FTX has already started this month. 

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Incorporating crypto into the gaming industry has been plagued with attacks from fans and developers who have criticised the concept of “play-to-earn” models that allow gamers to earn from blockchain-based games. 

Amidst all the chaos, FTX Trading Platform is ready to launch its own gaming unit to motivate more game distributors to accept cryptocurrencies, blockchain networks and non-fungible tokens. 

FTX Gaming will be operated by FTX’s U.S. affiliate and will be making its first appearance with the “crypto-as-a-service” platform. Gaming companies will be able to use the space to launch tokens or to offer support for NFTs.

Bloomberg has reported that an FTX spokesperson has said in an email, “There are 2 billion+ gamers in the world who have played with and collected digital items, and can now also own them.”

Last November, FTX made an announcement of investing $100 million along with its two partners to encourage the incorporation of the Solana blockchain into video games. 

The recruitment for this unit of the crypto exchange platform started this month. The company is on the lookout for software engineers who are well versed and have prior experience in coding in the game engine Unity. Interestingly, the team FTX is building for their gaming unit will be fully-remote. 

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Shreya Bhattacharya

A journalist & writer exploring new topics every day!