ApeCoin and Axie Infinity tokens started the new year with more than 6% increase in value.

Meanwhile, as gaming giant Square Enix doubled its blockchain share, metaverse game tokens kicked off the New Year on a high note.

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According to CoinGecko, ApeCoin (APE) rose 6.3% to $3.88, and Axie Infinity (AXS) rose 6.9% to $6.41. Other tokens, such as The Sandbox (SAND), rose 5.2% to around $0.40. The token MANA, from Decentraland, saw smaller gains of 4.4% to reach approximately $0.31.

APE recently completed elections for a special board, which includes five members who will guide the future of the ApeCoin project. ApeCoin is a utility and management token that is the basis of the Otherside metaverse platform; from the creators of the Bored Ape Yacht Club, Yuga Labs.

The year 2022 was brutal for many gaming tokens associated with the metaverse. AXS and SAND tokens were the worst performers this year, losing approximately 93% of their value. Therefore, news of this increase bodes well for many investors.

Square Enix reaffirms its commitment to the blockchain.

The price increase came when the prominent game developer doubled its metaverse investment. Yosuke Matsuda, president of Square Enix (Final Fantasy), recently reaffirmed his company's commitment to the blockchain.

In a New Year's letter, Matsuda said that blockchain technology is one of the "top three" areas of investment for the company in the medium-term future and one of the areas the company is "most focused on."

Matsuda noted that while 2022 was "a year of great volatility in the blockchain-related field," he expects blockchain plays to "enter a new phase of growth" in 2023.

Source: decrypt.co