FTX Starts Gaming Unit to Promote Crypto Adoption: Report

Crypto exchange FTX is starting a new gaming unit aimed at encouraging game publishers to embrace cryptocurrencies, according to a Bloomberg report on Monday.

• FTX Gaming will offer a "crypto-as-a-service" platform, which will allow gaming companies to launch tokens and offer support for non-fungible tokens (NFT). It will operate the service through its U.S. affiliate FTX U.S.
• NFTs are digital assets on a blockchain that represent ownership of virtual or physical items.
• Gaming is an "exciting use case for crypto," an FTX spokesperson said via email, according to Bloomberg's report.
• "There are 2 billion-plus gamers in the world who have played with and collected digital items, and can now also own them."
• According to DappRadar, there were 398 active blockchain games as of January 2022, up 92% from a year previously.
• FTX was not immediately available for comment when contacted by CoinDesk.

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