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Cryptocurrency Exchange FTX Introduces A NFT-as-a-Service Product For Gaming Studios

A prominent crypto exchange named FTX intends to initiate a gaming entity to provide support of chief gaming publishers for NFT (non-fungible token) integration as well as the other collectibles powered by blockchain.

FTX to offer web3 functionality for game studios

It was reported by Bloomberg that the venue will introduce its gaming product in the next months. The supposed FTX Gaming entity will operate as a platform to utilize crypto in the form of service. In addition to this, the NFTs will be supported by the respective service and the companies will be permitted to offer digital tokens. As per the report, the venture into the space of gaming points towards a strategic step taken by the exchange to embellish the digital assets as well as blockchain with opportunities by the game publishers.

The company, having been based in the Bahamas, considers that an instrumental role could be played by the decentralized systems in the gaming future, as the report mentioned. Moreover, the American affiliate of the venue will watch over the latest gaming hub. A couple of job listings were additionally published to appoint professionals for software engineering as well as the development of the engine of Unity gaming.

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While remarking on FTX Gaming’s launch, a spokesperson stated that FTX Gaming is being launched as the gaming is considered to have remarkable use case in terms of crypto and more than 2B gamers exist across the globe to have played as well as collected digital goods. The declaration creates a link with the former statements given on the behalf of the officials from FTX regarding the 2022-related expansion strategies.

Brett Harrison – the FTX U.S.’s president – shared a Twitter post in recent January and revealed that the firm takes the gaming industry as a prominent factor of interest. He added that the platform has the intentions to collaborate with Solana Ventures and introduce a fund for blockchain gaming with a worth of up to $100M. The target of the respective fund will be to provide support for gaming studios directed toward the integration of decentralized technology.

NFTs for a service

Certainly, the high demand for the deployment of particular protocols can normally be perplexing even for the well-known corporations in the terms of the enterprise-level crypto adoption of crypto. FTX and the rest of the local companies, that borrow the SaaS (software-as-a-service) model, have constructed and modified enterprise-scale blockchain applications to permit the chief institutions to incorporate the emerging technology and meet the mandate for the existing product offerings.

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Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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