• 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. 

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. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Why LUNA traders do not have to be in the market all the time

Why LUNA traders do not have to be in the market all the time

Terra (LUNA) price action has slipped below a critical level outlined a few days ago. As price action moves start to get smaller, a big move is set to happen, but it is very cloudy to see where that move will be going.

More Terra News

SEC vs. Ripple case, two key decisions awaited by XRP holders

SEC vs. Ripple case, two key decisions awaited by XRP holders

XRP holders are awaiting key decisions in the SEC vs. Ripple case. Experts believe judge Sarah Netburn could rule on the two key decisions in the lawsuit against payment giant Ripple. 

More Ripple News

MATIC price explodes as Polygon achieves Carbon neutrality

MATIC price explodes as Polygon achieves Carbon neutrality

MATIC’s purchase of carbon credits through KlimaDAO partnership represented 104,794 tonnes of greenhouse gasses, equivalent to the Ethereum scaling solution’s debt since 2019. Carbon neutrality has fueled a bullish sentiment among traders and 

More Polygon News

Things have suddenly changed for the Shiba Inu price, is the bottom in?

Things have suddenly changed for the Shiba Inu price, is the bottom in?

Shiba Inu price may have bottomed but this can only be confirmed if the current rally persists. Traders should be aware of several factors. Shiba Inu price has suddenly changed as the bulls have printed a significantly large bullish engulfing candle on the daily chart. 

More Shiba Inu news

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis

BTC

ETH

XRP