The NFT Gaming Company Inc (NASDAQ:NFTG) Stock Rallies 10%: But Why?
On December 5, the innovative gaming company NFT Gaming Company Inc. (NASDAQ:NFTG) was in prime focus among investors, and its stock ended up with gains of as much as 10% for the day. The company is currently involved in the development of a digital gaming platform.
Through the platform, the company seeks to provide its users with novel playable avatars for all the available games in the form of NFTs, or non-fungible tokens. There was no news about the company yesterday, but on October 17, it made a major new announcement. The company announced at the time that it was expecting to launch a pair of games on its platform in the fourth fiscal quarter of this year.
At the time, the Chief Executive Officer of the NFT Gaming Company, Vadim Mats, commented on the development. He expressed his excitement at the possibility of the launch of the upcoming games. Additionally, Mats also stated that following the successful launch of the company’s first two games, Brawl Bots and Space Striker AI, The NFT Gaming Company had continued to work on the development of fresh content in some of the genres that gamers prefer.
He went on to add that the two games would offer artificial intelligence-powered features like the other games, and those features could be used to generate NFTs. The aim of the company had been to plug the gap between traditional gaming and Web 3.0 gaming, he added.
The company noted at the time that it expected one of the two games to be a strategy game for multiple players and the other to be a puzzle game. In light of the latest rally in the stock, it could be a good idea for investors to keep an eye on the stock and on the news wires as well.
