Aptos (APT) saw a considerable rise in value over the last three days. This trend is attributed to investors’ more positive attitude towards the market as well as APT’s implementation of its Aptos SDKs (Web3 game development tool kits). Additionally, Aptos has formed a partnership with NPIXEL, a renowned Korean Triple-A gaming company.
APT Prices Increased Due To New Web3 Gaming Projects
Aptos blockchain has developed its own native token, called APT, and runs on a layer-1 proof-of-stake blockchain. This chain is equipped with a Smart Contract programming language referred to as Move. The purpose of the Aptos blockchain is to encourage widespread use of Web3 technology and create an array of DApps that can tackle real-world issues.
Aptos has continued to pursue its mission through several Web3 development efforts, the most recent being a new software development kit (SDK). The SDK is intended to facilitate Aptos’s entrance into the Web3 gaming realm, affording game creators and players control of in-game assets.
According to Aptos Labs, this SDK provides an advantage for Web3 gaming by making it possible for gamers to transfer virtual products, buy and sell them, and exchange them. Its introduction has contributed significantly to APT’s higher trading volume and value.
NPIXEL’s decision to construct their new gaming world, METAPIXEL, on Aptos is a landmark moment for blockchain technology as it continues to expand into the gaming industry. This advancement is likely what has caused an uptick in activity on Aptos and why the APT token price is experiencing growth currently.
The blockchain technology from Aptos that is powering METAPIXEL enables gamers to acquire in-game assets and mint gaming equipment as non-fungible tokens (NFTs). These digital assets and NFTs can be exchanged on NFT marketplaces based on Aptos. This capability is expected to drive more users to APT, potentially increasing its value and trading activity.
Did The Latest CPI Data Affect Aptos?
The recent surge in cryptocurrency prices, as a result of banking turmoil in the US and the February consumer price index (CPI) being released, has positively impacted APT’s price performance. The latest CPI for February is 6.0%, a decrease from January’s index.
Additionally, item prices rose by 0.4% in February which was consistent with economists’ predictions and lower than January’s 0.5%.
Cryptocurrency prices typically fall when the Consumer Price Index (CPI) goes up. Fortunately, the latest CPI data reveals a decrease from January’s inflation rate, which is beneficial for cryptocurrency. This could be why investors’ attitudes have not plummeted and crypto prices, including those of APT tokens, are still rising today.
