Tokens related to GameFi projects involved in the Solana ecosystem have been an understated casualty in the collapse of FTX.
FTX CEO Sam Bankman-Fried had been a major Solana backer, with the aim of investing $100 million in gaming projects.
GameFi projects built on the Solana blockchain have taken a major hit in the wake of the collapse of FTX, with the values of numerous game-tied tokens in decline. Of the affected titles, Aurory, TapFantasy, Star Atlas, and Mini Royale Nations have been some of the hardest hit.
The FTX Crash
The FTX Group, with exchange FTX US and quantitive crypto trading firm Alameda Research under its banner, has been at the center of recent market turbulence as the company crashed, eventually being forced to file for ‘Chapter 11′ bankruptcy. Amidst the general market crash, Solana particularly suffered, as the Founder and former CEO of FTX, Sam Bankman-Fried, had been a significant Solana backer.
FTX, Lightspeed, and Solana Ventures h
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