To launch the gaming unit of Crypto Exchange FTX


We’re launching FTX gaming because we see games as an exciting use for crypto. There are 2 billion + gamers in the world who have played and collected digital items and can now own them.

The merger between the crypto and gaming industries could provide gamers with digital tokens and NFT with more ownership over the items they earn while gaming. FTX’s unit has begun hiring a remote team of software engineers with experience coding in Game Engine Unity.

Growing investment in gaming

In November 2021, FTX announced a $ 100 million GameFi Ecosystem Fund in partnership with Solana Ventures and Lightspeed Venture Partners. As mentioned above by FTX, games make for an exciting use of crypto and this feeling is reflected in the flow of investment in the gaming industry. Major tech giants have invested heavily in the evolving play-to-earn (P2E) gaming ecosystem.

As of January 2022, there were 398 active blockchain games, a 92% increase over the previous year, according to a report by Dapradar.

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FTX’s new development comes amid criticism from gamers

FTX’s new decision has drawn criticism, despite a larger trend in the gaming industry. Increasingly, gamers, fans, and even developers have criticized the play-to-earn model that has been adopted by various platforms. Play-to-earn model, helps gamers earn while playing.

Those who have expressed dissatisfaction with the model say that making a profit through gaming can be rather dangerous and invite more problems.

P2E has often been considered a scam and unhealthy. Because such a model can become highly susceptible to multiple scams through the game.

Amy Wu, head of FTX’s US $ 2 billion venture capital fund, however, maintains a neutral position on the P2E gaming model. According to Wu, it will be too early to comment on the impact of play-to-earn games unless more studios bring games that offer digital resources.

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