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$AXS: FTX CEO Says Success of Axie Infinity Is ‘Proof’ of Potential of GameFi


www.cryptoglobe.com 08 January 2022 15:34, UTC
Reading time: ~2 m

The co-founder and chief executive officer of cryptocurrency exchange FTX called non-fungible tokens (NFT) and blockchain gaming the next big thing in crypto, while highlighting one exemplary altcoin as leading the way. 

Speaking in a recent interview with Scott Melker of the Wolf Of All Streets podcast, FTX CEO Sam Bankman-Fried (SBF) predicted a bright future ahead for crypto based gaming. He highlighted NFT-based online gaming network Axie Infinity ($AXS) as an example of the how the industry was being shaped. 

As reported by The Daily Hodl, SBF said, 

I think Axie [Infinity] is proof of how powerful this can be because it was from a lot of perspectives really coming from a place of weakness, not strength.

SBF claimed the game had little adoption before getting into crypto and using digital assets as a building block. He highlighted the game’s play-to-earn format as particularly compelling, making it a bigger success to other existing blockchain games such as CryptoKitties. 

FTX’s CEO admitted that Axie was not “the most engaging game,” or “most exciting,” but benefited heavily from the integration of NFT collectibles and digital assets, which he said was “super compelling.”

SBF predicted that the broader gaming industry would continue to embrace NFTs and make it part of their future plans moving forward. 

He said, 

I think that they [NFTs] could really enhance video games. And we’ve just seen every publisher, big and small in the world, is at least looking into it right now. They at least have a team that’s looking into what their NFT plan is going to be, their metaverse plan, whatever, they all call it something different.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.


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