FLOW Tokens Surge on Beijing 2022 Olympics Winter Games License
The price of Flow’s FLOW token surged 11% in the past 24 hours as a new, officially licensed mobile game showcasing the Beijing 2022 Olympics Winter Games was launched on the network this week.
- NWayPlay’s Olympic Games Jam: Beijing 2022 is a play-to-earn mobile game that was created in collaboration with the International Olympic Committee, according to a press release. Players compete in a series of arcade-styled winter sports to earn Olympic NFT digital pins as they compete for the gold.
- FLOW tokens surged to as high as $9 on Wednesday from the previous day’s $6.97 level. Prices have been in a steady uptrend since last week’s $5.50 level. FLOW, however, saw resistance at $8.50 as prices tumbled to $7.94 in early Asian trading hours.
FLOW tokens surged to over $9 before seeing a sell-off. (TradingView)
- NFTs, short for non-fungible tokens, are blockchain-based representations of tangible or intangible objects. The sector grew from a niche in 2019 to a multibillion dollar giant today, with players from both crypto and traditional companies issuing or using NFTs.
- NWayPlay offers players the ability to connect via both custodial and non-custodial wallets, meaning they could purchase in-game assets by credit card or connect to native crypto wallets with the tokens they have earned.
- The game is available on both Android and iOS apps and can be accessed with a nWayPlay ID – no wallet connection, unlike most crypto apps, is required to play the game.
- The Olympics’ branded game joins other products running on the Flow network. Flow developers said in the release there are 1.2 million registered users on the basketball card trading game NBA Top Shot, 1 million signups for cricket game Crictos and more than 3.7 million individual accounts on Flow.
- FLOW tokens, however, have been one of the biggest losers for investors. Prices are down 80% since highs of $42 last April, and they fell to as low as $4.42 last month.
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Shaurya is an analyst/editor for CoinDesk's markets team in Asia.
