ApeCoin and Axie Infinity Price Surges 6% in Last 24 Hours

• The surge came after APE completed its Special Council elections.
• AXS and SAND were among the worst performers in an already dismal year.

ApeCoin (APE) and Axie Infinity (AXS) are two of the metaverse and gaming-related cryptocurrencies that have had price increases of roughly 6% in the previous 24 hours.

Data from CMC shows that APE is up 6.4% to $3.94. AXS is up 6.7% to $6.40, and SAND is up 6.1% to roughly $0.41 for The Sandbox. Decentraland’s (MANA) only rose by 4.3%, at around $0.3115. In comparison, the total value of all cryptocurrencies has only increased by around 1.6% in the last day.

Much Needed Boost After Dismal Year

The surge came after APE completed its Special Council elections. In which five new members were chosen to steer the direction of the ApeCoin project going forward. Otherside, the metaverse project by the folks of Bored Ape Yacht Club’s parent company Yuga Labs, is supported by a utility and governance token called ApeCoin.

In addition, in its annual New Year’s message, video game developer Square Enix reiterated its dedication to blockchain and Web3 gaming.

This recent positive development for investors is a huge relief after a dismal 2022 for Metaverse-related currencies. AXS and SAND were among the worst performers in an already dismal year for crypto. Dropping around 93% of their value.

Yosuke Matsuda, president of Final Fantasy publisher Square Enix, recently reaffirmed the company’s commitment to the sector. And this pricing change comes as a result.

Matsuda said that blockchain technology was one of the “top three” areas of investment for the firm in the mid-future and one on which the corporation was “most focused” in the New Year’s letter sent out to employees.