FTX adds Sega exec to expand gaming reach

Cryptocurrency exchange FTX has added former WB Games and Sega executive Steve Sadin as head of gaming partnerships to expand its gaming reach.

The Bahamian company aims to enable developers to add NFT and play-to-earn features to its future games, alongside offering crypto-as-a-service to current gaming companies.

Originating from a traditional gaming background, Sadin was previously Sega’s vice president of product before he became WB Games’ executive director of product, which then led him to his studio head and vice president position of WB Games in Boston.

This move was similar to that of Ryan Wyatt, former head of YouTube Gaming turned Polygon Studios CEO.

In a recent press release, Sadin said: “We’re putting players first and creating open economies powered by the blockchain that grant players true asset ownership.

“We’re making it possible for developers to create in-game assets that players will pass down to their future grandchildren.”

Last November saw FTX launch a $100m fund with Lightspeed Venture and Solana Ventures investing in blockchain gaming start-ups.

Alongside this, only last month FTX’s US team launch its gaming business, FTX Gaming, a unit helping gaming studios incorporate blockchain technology and NFTs into its games.

Amy Wu, FTX ventures and commercial, commented: “Collectively, Steve has run games that have been played by hundreds of millions of players and generated over $1bn in product revenue, which makes him a great candidate for establishing partnerships with major gaming studios because he knows the industry so well, both as a player and studio head, and he knows what it takes to be successful.”

With the appointment of Sadin, FTX’s doors have been opened to some of the world’s biggest brands.

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Updated: 03/15/2022 — 15:00