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Seeking Alpha 2022-02-22 16:46:40

Cryptocurrency exchange FTX launches new gaming unit -Bloomberg

In an effort to expand its footprint in the gaming space, cryptocurrency exchange FTX introduced its new unit, FTX Gaming, Bloomberg reported Tuesday. FTX Gaming, which operates through FTX's U.S. affiliate, will launch with a "crypto-as-a-service" platform through which gaming firms can issue tokens and offer support for non-fungible tokens, Bloomberg highlighted. The unit began hiring a fully-remote-team in February, consisting of software engineers with coding experience in the gaming industry. The move comes as the so-called GameFi, a blockchain-powered "play-to-earn" system, space gains traction from firms that want to implement GameFi use cases to the metaverse, for example. “We are launching FTX Gaming because we see games as an exciting use case for crypto,” an FTX spokesperson told Bloomberg via email. “There are 2 billion+ gamers in the world who have played with and collected digital items, and can now also own them.” In mid-January, FTX Trading formed a

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