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FTX Gaming will Offer Game Publishers NFT and Crypto Support

FTX Gaming will Offer Game Publishers NFT and Crypto Support

One of the largest crypto exchanges FTX has will be launching its gaming branch to bring blockchain technologies into the industry.

While the term “play-to-earn” has been thrown around for quite a while, there are only a handful of video games that have proper blockchain environments. Likewise, not a lot of game publishers are in favor of integrating digital assets into their games due to community backlash. However, FTX Gaming will be looking to persuade the critics, and attempt to bring play-to-earn games to light.

Based on the report by Bloomberg, FTX’s new gaming platform will seek to attract gaming publishers, and offer them an NFT and native token platform. This would essentially cut out the work for publishers who are looking to implement digital assets into their games.

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ICO vs IDO vs IEO: Which One's the Best? (Easily Explained)

ICO vs IDO vs IEO: Which One's the Best? (Easily Explained) ICO vs IDO vs IEO: Which One's the Best? (Easily Explained)

According to an email retrieved by Bloomberg, a spokesperson for FTX stated that the platform will allow an "exciting use case for crypto" since there are "2 billion+ gamers in the world who have played with and collected digital items, and can now also own them."

Amy Wu, who was recently appointed as the Head of FTX’s venture capital fund worth $2 billion, and became the leader of FTX Gaming, stated that there is no way to tell how well players will react to the play-to-earn concepts.

In fact, she argued that the game itself should be the selling point, not the digital assets so that the player’s experience doesn’t become worse "in exchange for profit." However, Wu claimed that she had no idea "how fierce the animosity has been with some gamers against NFTs."

One of the most known game publishers that announced NFT integration into its games was Ubisoft, with the project Quartz. However, the publisher received immense backlash, with players arguing that in-game NFTs will become the priority for the developers.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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