InstaForex

October 12, 2021

This Giant Firm Invested $ 152 Million For Axie Infinity (AXS)!

 Samsung conglomerate Samsung Next is rumored to have made a $ 152 million investment in the Series B round of crypto -based gaming company Sky Mavis.


For the record, Sky Mavis is based in Vietnam and is the developer of Axie Infinity.


Samsung has previously invested in Dapper Labs, creator of CryptoKitties and Hong Kong -based company Animoca Brands.


Samsung's latest investment is described as a step towards reaping high profits (ROI), in addition to seeing the convincing potential of blockchain and non-fungible tokens (NFT).



However, South Korea had earlier blocked any blockchain or NFT-related products through a body known as the Game Rating and Aministration Committee.


Unsure how far the barriers will go, Myongji University professor of industrial management and engineering Kim Jeong-soo is confident the government will ease restrictions as the country's focus has shifted to metaverse expansion: . ”


This good news invites a positive movement of the native Axie Infinity (AXS) token, which jumped over 3% in 24 hours to its value at the time of this writing, $ 122.29.


The AXS needs a jump of over 19% to reach an all -time high (ATH), $ 155.08 recorded on October 4th.