FTX announces support for Web3 gaming, begins in-house NFT game development

FTT token, considered the backbone of the FTX ecosystem, has attempted a recovery from a recent price drop as the exchange enters Web3 gaming and development. FTX exchange has forayed into Web3 gaming and NFT web development. 

FTX acquires Good Luck Games, begins NFT focus

Samuel Bankman-Fried (SBF), the CEO of FTX, has acquired the developer of Storybook Brawl, Good Luck Games. FTX acquired the game developer for an undisclosed amount and integrated the game following an acquisition. 

FTX is keen on the development of its game as a whitelabel package for the exchange. According to SBF's tweet, in-house game developers would work toward Web3 game development. 

FTX has launched a gaming unit that enables game publishers to adopt a "crypto-as-a-service" model. Good Luck Games is considered a veteran in game development and design. The Washington-based game developer has worked on Storybook Brawl, a card battle game. 

SBF tweeted about the new development and FTX's plan to launch its expert game and lead Web3 gaming in its ecosystem. 

The native token of the ecosystem, FTT, posted nearly 10% gains over the past week. FTT token is attempting a recovery. 

@CryptoPoseiddon, a crypto analyst and trader, evaluated the FTT price trend and predicted that the token could reclaim $48. The analyst has set a target of $65 for the FTT token. 

Ted of @tedtalksmacro has a bullish outlook on FTT and set a $60 target for the token in the ongoing price cycle.