FTX price forecast: how will the support for Web3 gaming and in-house NFT game development shape its value?
FTX has announced entry within the Web3 gaming sphere through the acquisition of Good Luck Games.
The FTX CEO revealed that the in-house developers would build a white label package for the exchange.
FTT’s price could increase as a direct result of this development within the FTX ecosystem.
The FTX Token (FTT) is the native cryptocurrency token used within the crypto derivatives trading platform FTX.
The FTT token enables its holders to earn fee rebates, trading fee discounts, and the ability to stake the token to receive higher referral bonuses and to vote within the community governance.
The Web3 gaming and in-house NFT game development as a catalyst for growth
Sam- Bankman-Fried which is the CEO of FTX, has announced the acquisition of the developer Good Luck Games, known for titles such as Storybook Brawl.
FTX has acquired this game developer for an undisclosed amount and has integrated the game following the acquisition.
As such, FTX is moving towards the development of its game as a white label package for the exchange.
In-house developers are now working towards Web3 game development.
This development could contribute to the growth of the FTX ecosystem as well as the value of the FTX Token (FTT).
Should you buy FTX Token (FTT)?
On March 23, 2022, FTX Token (FTT) had a value of $45.164.
To get a better perspective as to what kind of value point this represents in regards to the FTX Token (FTT), we will be going over the performance of the token throughout February, as well as its all-time high value.
The all-time high value of the FTT token was achieved on September 9, 2021, when the token reached a value of $84.18.
With that in mind, when we look over the performance of the token throughout the previous month, FTX Token (FTT) had its highest point of value on February 7, when the token reached a value of $48.3.
Its lowest point, however, was on February 24, when the token decreased to $37.88. Here, we can see that from the span of February 7 to February 24, FTT decreased by 21% in value or by $10.42.
However, from February 24 to March 23, the token increased by $7.284 or by 19%. With this in mind, we can expect FTT to reach $50 by the end of March 2022.