FTX Launches Gaming Unit: Report
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Feb. 21, 2022

Cryptocurrency exchange FTX is launching its own gaming unit to boost the adoption of cryptocurrencies, non-fungible tokens (NFTs) and blockchain technology in video games, Bloomberg has leaned, citing a spokesperson for FTX.

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The exchange reportedly plans to operate the so-called FTX Gaming arm through its own US affiliate — FTX.US. The arm will work in the form of a "crypto-as-a-service" platform where gaming companies could launch their tokens.

"We are launching FTX Gaming because we see games as an exciting use case for crypto. There are 2 billion+ gamers in the world who have played with and collected digital items, and can now also own them," the spokesperson added.

South African Regulator Warns Against Using FTX and Bybit

The move comes after FTX launched a $2 billion venture fund to invest in equity and/or tokens, at any check size and stage. While the requirements for funding remain unclear, FTX Ventures said it is ready to back even anonymous developers. The venture particularly will focus on gaming, social, software, fintech, and healthcare.

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