The hype around NFT continues. As a prime example, in addition to digital artwork, some of which are auctioned for millions of dollars, Axie Infinity should be mentioned here.
Investment company Samsung Next, a subsidiary of Samsung’s technology group, is now investing about $ 152 million in Sky Mavis, the company behind Axie Infinity. Samsung Next still sees huge growth potential here. The project-related AXS token is currently selling for about $ 118, and its value has increased by about 95,000% since November 2020. The developer of Sky Mavis is making millions on the play-to-earn game concept.
Samsung Next: Not the First Investment in Blockchain Products
This isn’t the first time Samsung Next has invested in this space. Companies such as Dapper Labs (in charge of Cryptokitties) and Animoca Brands, based in Hong Kong, have already been the focus of Samsung Next.
Samsung seems confident that the game still has potential, despite the already very strong growth of Axie Infinity.
In South Korea, Samsung’s home market, such games for making money are prohibited. However, experts believe that the situation will change in the near future.
NFT for mass adoption of cryptocurrency
Overall, it seems that NFTs offer an opportunity to finally make the cryptocurrency market accessible to every layperson. Even though the cryptocurrency market has been steadily growing over the years, NFTs cover a wide variety of areas.
NFTs are now used in everything from computer games to art and music. Rappers Cro and Kool Savas recently announced their own NFT through the Niftee auction platform. Meanwhile, even in China, despite the ban on cryptocurrency, NFTs are allowed. Tiktok and McDonalds China also know how to leverage the current market situation for themselves with their own NFT collections.