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. 

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. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Chainlink social dominance hits six-month peak as LINK extends gains

Chainlink social dominance hits six-month peak as LINK extends gains

Chainlink social dominance surged to a six-month peak on Friday as LINK holders increased their activity. LINK traders started taking profits, on-chain data trackers show. LINK price added 6% on Friday, extending its gains from mid-week.

More Chainlink News

Binance helps Taiwan crack a virtual asset money laundering case, BNB sustains above $570

Binance helps Taiwan crack a virtual asset money laundering case, BNB sustains above $570

Binance’s Financial Crimes Compliance (FCC) department joined forces with Taiwan’s Ministry of Justice and helped resolve a case of money laundering worth NT$200 million, or $6.2 million. 

More Binance News

Bitcoin Weekly Forecast: Is BTC out of the woods? Premium

Bitcoin Weekly Forecast: Is BTC out of the woods?

Bitcoin price shows signs of continuing its uptrend, providing a buying opportunity between $64,580 to $63,095. On-chain metrics forecast a bullish outlook for BTC ahead. If BTC clears $70,000, the chances of resuming the uptrend would skyrocket.

More Bitcoin News

XRP trades steady at $0.50 as Ripple shares plan to expand services in Africa

XRP trades steady at $0.50 as Ripple shares plan to expand services in Africa

Ripple hovers close to $0.51 on Friday, above the psychologically important $0.50 level, as traders await the court ruling of the lawsuit against the US Securities and Exchange Commission and amid new commitments from the firm to expand its services in Africa. 

More Ripple News

Bitcoin: Is BTC out of the woods? Premium

Bitcoin: Is BTC out of the woods?

Bitcoin (BTC) price action in the past two days has confirmed the resumption of the bull run. However, BTC needs to clear a few key hurdles before investors can go all-in. 

Read full analysis

BTC

ETH

XRP