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Crypto Exchange FTX Acquires Good Luck Games for Undisclosed Amount

UTC by Bhushan Akolkar · 2 min read
Crypto Exchange FTX Acquires Good Luck Games for Undisclosed Amount
Photo: Unsplash

FTX CEO said that Storybook Brawl has all the essential elements of being a great game and thus they will proceed ahead with integrating crypto and NFTs into it.

Cryptocurrency exchange FTX is making a major push in the gaming market. FTX announced the acquisition of Good Luck Games for an undisclosed amount. This comes as part of the company’s plans in expanding its reach in the broader crypto ecosystem.

Interest of FTX in Good Luck Games

Last month itself, the news broke out that crypto exchange FTX is launching its native gaming unit. The goal was to encourage gaming publishers for adopting cryptocurrencies through the “crypto-as-a-service” platform. Thus, these gaming companies can launch their native tokens as well as offers non-fungible tokens (NFTs).

On the other hand, Good Luck Games is the developer of the upcoming battle game Storybook Brawl. Following the acquisition, FTX will integrate Good Luck Games into FTX Gaming.  Storybook Brawl is a card-based auto-battler game featuring a fairytale with mythical characters. It is currently available in early access on Steam.

Although simple to play, the game features a variety of cards with strategic gameplay along with the possibility of creating blockchain-based digital gaming assets. The mobile version of Storybook Brawl will likely arrive by this summer. Commenting on this development, FTX CEO and co-founder Sam Bankman-Fried said:

“We’re excited to explore what the intersection of NFTs, crypto, blockchain, and gaming looks like. But we’re even more excited to see where Storybook goes. Our mission is to help them build the best games they can–with as much (or little!) integration with FTX as they want”.

FTX’s Support for Web 3 Gaming

FTX CEO Sam Bankman-Fried said that they are all excited to support Web 3 gaming, however, they have a specific approach for supporting great games. He said that there’s too much rush in building and launching an NFT-supported game. However, he believes, the core focus of developers should be on building great games first.

“And just as importantly, web3 should make a game better, not neutral or worse. If integrating crypto hurts a game, we don’t want to do it,” he added.

Sam assured that FTX will be supporting a number of gaming partners with a full Web 3 suite. The exchange also has an in-house case for developing a white-label package. Sam Bankman-Fried believes that he sees all the essential elements of a great game in Storybook Brawl.

“I’m incredibly impressed with what they’ve built, and can’t wait for what’s left to come,” he added.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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