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Leading Crypto Exchange Launches Gaming Unit to Drive NFT and Token Adoption

FTX, one of the world’s largest cryptocurrency exchanges, is launching a new team called FTX Gaming that is focused on driving crypto and non-fungible token (or NFT) adoption in the gaming world. According to an FTX spokesperson, the company is launching a “crypto-as-a-service” platform through which tokens can be launched and support for NFTs within the game. The exchange’s new gaming-focused team is just another example of the continued push to bring blockchain-based products into the gaming space. Companies like WonderFi Technologies Inc (NEO:WNDR) (OTCPK:WONDF), Voyager Digital Ltd. (TSX:VOYG) (OTCQX: VYGVF), DeFi Technologies, Inc. (NEO:DEFI) (OTCPK:DEFTF), Hive Blockchain Technologies (NASDAQ:HIVE) (TSXV:HIVE), and Riot Blockchain, Inc. (NASDAQ:RIOT) are also part of the industry-wide initiative to increase DeFi adoption in more sectors.

WonderFi Technologies Inc (NEO:WNDR) (OTC:WONDF) reported rapid user growth within the WonderFi community with a total of 600,000 users as of February 28, 2021. Thanks to the Bitbuy acquisition, WonderFi expects to bring 389,000 users into the ecosystem.

Since its January 25 launch, WonderFi’s app has registered more than 25,000 unique visits and the average daily visits increased by 423% each week. Likewise, Bitbuy recorded a 58% increase in its new user registration in Q4 2021 compared to the previous quarter.

WonderFi will incorporate NFT support to the app in 2022 with the aim of creating a bridge between gaming and cryptocurrencies after the closing of the Sun Machine acquisition. The company aims to get more and more users to adopt blockchain technology by adding new products and integrated solutions to WonderFi.

Ben Samaroo, Chief Executive Officer of WonderFi commented:

"Within a very short timeframe we have achieved over half a million users and we are focused on offering a diverse set of high quality products to those users. The strong synergies between CeFi, DeFi, gaming and NFTs provide us with a tremendous opportunity to continue to grow our user base and increase the value of the WonderFi ecosystem."

WonderFi also recently announced the launch of a new division, WonderFi Interactive Inc., which will help expand the range of products WonderFi offers for play-to-earn games and NFTs. In addition, the new division will provide a new gateway for users to the WonderFi ecosystem.

The company also announced its new acquisition of Sun Machine Entertainment Inc., a game development studio that owns the Go BIG! franchise, available for Android and iOS. The game brings approximately 200,000 users across the two operating systems into the WonderFi ecosystem. The new WonderFi Interactive division will include Go BIG!, celebrity NFT integration and new game development by 2022 with the aim of attracting more players to the WonderFi ecosystem.

The company expanded its reach significantly with its partnership with Kogan.com, to an expected 3.3 million potential customers. WonderFi believes that Kogan.com Limited, one of the largest and most popular online retailers in Australia and New Zealand, will provide support to WonderFi Technologies Inc to drive international expansion and user growth.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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