Sui price extends losses, shrugging off creator's venture into Web3 gaming
- Sui creator Mysten Labs announced the launch of a handheld gaming device SuiPlay0X1 on Wednesday.
- The device supports Web3 and Web2 games across PC and mobile, fueling the gaming narrative.
- SUI price is down nearly 2% on Wednesday.
Mysten Labs, the creator of the Sui blockchain, announced on Wednesday that it is venturing in the Web2 and Web3 gaming sector through the launch of a handheld device.
Despite the announcement, the Layer 1 blockchain’s token SUI registered around 2% losses on Wednesday, extending its recent downtrend.
Mysten Labs forays into Web2 and Web3 gaming
SUI co-founder and Chief Product Officer, Adeniyi Abiodun, @emanAbio on X, announced Mysten Labs’ foray into gaming with a handheld device at Sui Basecamp. Abiodun dropped the details of a gaming device called SuiPlay0X1 at the two-day event.
BREAKING: announcement from onstage at #SuiBasecamp: we’re excited to share the first handheld gaming device with native Web3 capabilities – the SuiPlay0X1, powered by @PLAYTR0N! pic.twitter.com/Zubhx6gyXG
— Sui (@SuiNetwork) April 10, 2024
The device is powered by Playtron’s gaming operating system and can be used to play both Web2 and Web3 games across PC and mobile. The device will be available at stores worldwide in 2025, as per the announcement.
The news fuels the gaming narrative and supports Sui’s foothold in gaming.
SUI price is down nearly 2%
Sui creator’s foray in gaming failed to catalyze gains in the Layer 1 token. SUI price is down 1.45% on the daily timeframe and has fallen by nearly 11% in the past seven days.
SUI is trading at $1.5159 on Binance at the time of writing.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
