BTC

$58199.248

-0.13%

ETH

$2596.241

-0.53%

BNB

$522.534

0.66%

XRP

$0.569

0.78%

News

NCSoft Reaps 250x Profit Surge from SUI Tokens Investment!

1 hours ago - Around 2 mins mins to read

Key Points:

  • NCSoft sold 16.9M SUI coins, turning a 100M won investment into 25.2B won in just six months.
  • Purchased SUI coins at 6 won each, sold at 1,490 won, achieving over 250 times profit.
  • NCSoft invested $15M in Mistin Labs and quickly recovered its SUI tokens investment, highlighting strategic crypto success.
NCSoft has returned with more than 250 times the original SUI tokens investment within six months.
NCSoft Reaps 250x Profit Surge from SUI Tokens Investment!

NCSoft Sells SUI Coins for Massive 25.2 Billion Won

NCSoft announced in its semi-annual report that it sold 16,908,112 SUI tokens investment in the first half of the year for 1,490 won per coin, bringing in revenue of 25.2 billion. This is in massive contrast to the 100 million won spent on the purchase of the coins.

In the year before the current, NCSoft bought 49,928,006 SUI coins for about 300 million won per coin, at 6 won. Of these, 49,382,303 coins had disposal restrictions. The company would, therefore, be able to sell as many as 447,345 coins without a problem, but not until May, when the restrictions on disposal of 16,467,680 coins are removed. The remaining coins are still under disposal restrictions and shall only be unbolted in May 2025 and May 2026.

Read more: Native Stablecoins Swell on Sui as Agora Adds AUSD Stablecoin to Network

NCSoft Recoups Investment Through SUI Coin Sales

image 219
Source: CoinMarketCap

According to CoinMarketCap, the total supply of SUI coins is 10 billion, while the current circulating supply is 2.596 billion. NCSoft’s grand investment plan continues an investment of $15 million in Mistin Labs, the SUI coin issuer, made in November 2022. Under this collaboration, it has been agreed upon that both parties work together on strengthening the development of Web3 games inside Mistin Labs’ ecosystem.

NCSoft has clarified that the SUI coin investment was not tagged with the investment in Mistin Labs, and the amount invested has been recovered, as it sold out all of its SUI tokens investment within a year and a half.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

NCSOFT

SUI coin

SUI coins

SUI Tokens

SUI Tokens Investment

Avatar of Annie

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

NCSoft Reaps 250x Profit Surge from SUI Tokens Investment!

Key Points:

  • NCSoft sold 16.9M SUI coins, turning a 100M won investment into 25.2B won in just six months.
  • Purchased SUI coins at 6 won each, sold at 1,490 won, achieving over 250 times profit.
  • NCSoft invested $15M in Mistin Labs and quickly recovered its SUI tokens investment, highlighting strategic crypto success.
NCSoft has returned with more than 250 times the original SUI tokens investment within six months.
NCSoft Reaps 250x Profit Surge from SUI Tokens Investment!

NCSoft Sells SUI Coins for Massive 25.2 Billion Won

NCSoft announced in its semi-annual report that it sold 16,908,112 SUI tokens investment in the first half of the year for 1,490 won per coin, bringing in revenue of 25.2 billion. This is in massive contrast to the 100 million won spent on the purchase of the coins.

In the year before the current, NCSoft bought 49,928,006 SUI coins for about 300 million won per coin, at 6 won. Of these, 49,382,303 coins had disposal restrictions. The company would, therefore, be able to sell as many as 447,345 coins without a problem, but not until May, when the restrictions on disposal of 16,467,680 coins are removed. The remaining coins are still under disposal restrictions and shall only be unbolted in May 2025 and May 2026.

Read more: Native Stablecoins Swell on Sui as Agora Adds AUSD Stablecoin to Network

NCSoft Recoups Investment Through SUI Coin Sales

image 219
Source: CoinMarketCap

According to CoinMarketCap, the total supply of SUI coins is 10 billion, while the current circulating supply is 2.596 billion. NCSoft’s grand investment plan continues an investment of $15 million in Mistin Labs, the SUI coin issuer, made in November 2022. Under this collaboration, it has been agreed upon that both parties work together on strengthening the development of Web3 games inside Mistin Labs’ ecosystem.

NCSoft has clarified that the SUI coin investment was not tagged with the investment in Mistin Labs, and the amount invested has been recovered, as it sold out all of its SUI tokens investment within a year and a half.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Visited 18 times, 18 visit(s) today