FLOW Token Spikes 50% After Beijing Winter Games License

Varuni Trivedi
Updated: Feb 10, 2022, 18:00 GMT+00:00

Flow ecosystem's new play-to-earn mobile game lets players in on the Olympics mania from the ongoing Winter Games in Beijing.

FLOW Token Spikes 50% After Beijing Winter Games License

In this article:

Flow, a decentralized, and developer-friendly blockchain, designed for new generation games, saw a sudden spike in social interest after the launch of their mobile game which got officially licensed to showcase the ongoing Beijing 2022 Olympics Winter Games. 

FLOW Token Spikes

Flow is a layer-one blockchain originally created by a team that has delivered projects like CryptoKitties, Dapper Wallet, and NBA Top Shot.

The ecosystem’s token FLOW surged by close to 15% in the last 24 hours as a new, officially licensed mobile game showcasing the ongoing Beijing 2022 Olympics Winter was launched on the network. 

According to a release shared by the firm, nWayPlay’s Olympic Games Jam, Beijing 2022 is a play-to-earn mobile game created in collaboration with the International Olympic Committee.

The game lets players compete in a series of arcade-styled winter sports to earn Olympic NFT digital pins as they compete for the gold.

In tandem with the announcement, FLOW token surged as high as $9 on February 9 from $6.9 a day ago. A week back the alt’s price sat at $5.9 and the coin noted a strong uptick.

However, at press time the token traded at $7.79 noting 3.97% daily losses. The altcoin faced strong resistance at $8.50 and a move above the same could trigger further price uptick. 

FXempire, Flow, Crypto, Olympics,
Source: FXEmpire

At press time, Bitcoin traded at $44,948 noting a 2.07% daily rise in price, while ETH exchanged hands at $3,224.88 presenting 1.39% daily gains. 

The Olympics Mania

The Winter Olympics 2022 have been surrounded by controversies around air pollution, government snooping, and the environmental impact of Games which rely mostly on man-made snow add to the mix of controversies.

That said, rising Covid-19 cases near areas around Beijing and reports about the government imposing a secret lockdown, as reported in previous articles have further added to the negative commentary around the Winter Olympics.

Furthermore, the much anticipated digital yuan is finally available for foreigners at the Winter Olympics in Beijing but there have been issues around the same. While the Digital Yuan’s performance may have had a shaky start, the FLOW token’s price reacted well to the Olympic tie-up. 

About the Author

A Journalism post-graduate with a keen interest in emerging markets across South East Asia, Varuni’s interest lies in the Blockchain technology. As a financial journalist, she covers metric and data-driven stories with a tinge of commentary, and strongly believes in HODLing.