FTX announces support for Web3 gaming, begins in-house NFT game development
- Sam Bankman-Fried announced FTX's entry into Web3 gaming through the acquisition of 'Good Luck Games'.
- The FTX CEO revealed that the in-house developers would build a whitelabel package for the exchange.
- FTT price attempts recovery in response to the key development in the FTX ecosystem.
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.
1) FTX is really excited to support web3 gaming.
— SBF (@SBF_FTX) March 22, 2022
But we have a very specific approach:
support great games.
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.
$FTT
— Crypto Poseidon (@CryptoPoseidonn) March 18, 2022
Price making sideways moves and clean bottom formation imo.
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Reclaim and hold $48, I am targeting $65. pic.twitter.com/5PeN59sAfs
Ted of @tedtalksmacro has a bullish outlook on FTT and set a $60 target for the token in the ongoing price cycle.
$FTT thoughts pic.twitter.com/zLA5YRORZU
— Ted (@tedtalksmacro) March 22, 2022
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
