• Loading stock data...
Saturday, June 14, 2025

FTX to Launch Blockchain-Focused Gaming Unit

  • FTX is launching its own gaming unit.
  • The gaming unit will embrace blockchain networks and NFTs.
FTX/Design: Alex Brooks

Cryptocurrency exchange FTX, which has leaned heavily on sports and gaming partnerships, is launching its own gaming unit in which publishers embrace blockchain networks and NFTs. 

FTX Gaming will provide gaming companies with the ability to launch crypto tokens and support NFTs. The gaming unit follows FTX teaming up with Solana Ventures and Lightspeed Venture Partners in November 2021 to launch a $100 million gaming fund called GameFi. The fund facilitates investments in projects at “the intersection of blockchain and gaming.”

FTX has been using the video game industry to expand its reach. 

  • It established a $2 billion fund to invest in crypto startups, with a focus on gaming and security companies.
  • Esports team TSM rebranded to TSM FTX after signing a $210 million partnership with the exchange. 

Last month, FTX raised $400 million in a Series C funding round, valuing the company at $32 billion. The round included SoftBank’s Vision Fund 2, Tiger Global, and Lightspeed Venture Partners. To date, FTX has raised $2 billion but has spent nearly $1 billion on acquisitions.

Lucrative Opportunity

NFT games generated $2.3 billion in revenue in Q3 2021 and accounted for 22% of all NFT trading volume during the quarter, per the Blockchain Game Alliance’s annual report.

The number of crypto wallets related to gaming ballooned from 29,563 in Q1 to 754,000 in Q3.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jun 6, 2024; Boston, Massachusetts, USA; Shaquille O'Neal looks on before the game between the Boston Celtics and the Dallas Mavericks in game one of the 2024 NBA Finals at TD Garden.

Shaq’s $1.8M FTX Settlement May Be a Great Deal in the Long..

Tom Brady, Steph Curry, and others still face billions in potential damages.

Tom Brady Backs Another Crypto Play

Brady is in a group investing $18 million in a crypto-adjacent business.
Curry

Brady, Curry, Ohtani Get Most Claims Dropped in FTX Endorser Suit

The judge did call the endorsers “uninformed, negligent, or even reckless.”
July 9, 2009; Auburn Hills, MI, USA; Detroit Pistons president Joe Dumars during the press conference to introduce their new head coach John Kuester at their practice facility.

Joe Dumars Leaving NBA League Office to Run Pelicans

Joe Dumars was the architect of the 2004 champion Pistons.

Featured Today

Jun 10, 2025; Nashville, Tennessee, USA; United States head coach Mauricio Pochettino stands during the anthem against the Switzerland during the first at Geodis Park

Gold Cup Is Complicated for USMNT—but U.S. Soccer Has Its Eyes on..

Uncertain tournament success isn’t fazing forward-looking U.S. soccer.
Jan 24, 2017; Davidson, NC, USA; The Davidson Wildcats student section cheers during the first half against the Duquesne Dukes at McKillop Court at John M. Belk Arena. Davidson defeated Duquesne 74-60.
June 6, 2025

Every College Wants a Flashy Basketball GM Hire Right Now

The role is more important than ever, and the definition is ever-evolving.
August 31, 2024; Columbus, Ohio, USA; The Goodyear blimp flies over Ohio Stadium during the first half of Saturday’s NCAA Division I football game between the Akron Zips and the Ohio State Buckeyes.
June 6, 2025

Why the Goodyear Blimp Is at Every Major Sports Event

The airship wasn’t built to cover sports. Now it’s a regular presence.
May 27, 2015; Paris, France; Mirjana Lucic-Baroni (CRO) knocks the clay off her shoe during her match against Simona Halep (ROU) on day four of the French Open at Roland Garros
June 4, 2025

Roland-Garros’s Iconic Red-Clay Surface Is a Precise Alchemy

The exact science behind maintaining the French Open’s red clay.

Thunder Favored, but Bettors Backing Pacers Big in NBA Finals

The most bet-on exact series outcome is the Thunder winning in five.
Fanduel
March 4, 2025

FanDuel Retains Sports Betting Crown With $14B in 2024 Revenue

The FanDuel parent company posts big increases in revenue and net income.
May 8, 2025

FanDuel Misses Projections As Betting Favorites Dominate 

FanDuel is hit by customer-friendly betting outcomes during March Madness.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Ted Leonsis unpacks basketball’s global rise, media rights, and portfolio ownership.
February 20, 2025

Americans Bet $148 Billion on Sports in 2024, Up 23.6%

Both overall handle and revenue rose by more than 20% last year.
DraftKings app
February 14, 2025

Lawsuit Says DraftKings VIP Program ‘Preyed On’ Gambling Addicts

The company’s being sued for negligence and intentional infliction of emotional distress.
August 20, 2024

Beloved ‘Backyard Sports’ Brand Says It Will Relaunch After Decade Hiatus

“Backyard Baseball” was a turn-of-the-century computer hit. 
DraftKings
August 2, 2024

DraftKings Announces Consumer Tax Starting Next Year

The company’s stock fell 5% Friday morning.