FTX cryptocurrency exchange will launch a gaming division

FTX crypto exchange has made the decision to launch a new gaming division.

FTX Gaming plans to provide a 'crypto-as-a-service' platform, which will assist gaming companies in introducing and launching their tokens, as well as providing support for non-fungible tokens.

FTX crypto exchange has made the decision to launch a new gaming division.
FTX crypto exchange

FTX Gaming is fostering a convergence between the crypto and gaming industries with its new introduction. This will secure the development of these industries as well as their expansion. According to an FTX representative,

"We're introducing FTX Gaming because we think games are a fun way to use cryptocurrency. More than 2 billion gamers around the world have played with and acquired digital objects, which they can now possess."

The coming together of the crypto and gaming sectors could give gamers more control over the products they earn while gaming through digital tokens and NFTs.

A remote team of software developers with experience coding in the Unity game engine has been hired by FTX's unit.

Gamers are critical of FTX's latest development

FTX's most recent decision has been criticized, despite a greater trend in favor of the gaming industry.

Gamers, fans, and even developers have become increasingly critical of the play-to-earn paradigm used by various platforms. The play-to-earn strategy allows players to earn money as they play.

Those who have expressed dissatisfaction with the idea have argued that making money through gaming can be risky and can lead to more problems.

P2E has a bad reputation for being a fraud and unhealthy. This is because using such a paradigm, games might become extremely vulnerable to a variety of scams.