SUI Network, a new layer 1 designated Proof-of-Stake (dPoS) blockchain, is set to launch on May 3, 2023, at 8 a.m. ET. Built by Mysten Labs, one of the two spinoffs that came from Meta’s Diem project, SUI aims to become the premier NFT and gaming platform for the cryptocurrency industry.
What is SUI?
One of the standout features of SUI is its Move programming language, which developers have said is a more intuitive way to write smart contracts. While Move was not initially designed with NFTs in mind, SUI Move is implementing certain NFT-specific functions, making it possible for objects on SUI to be owned by a single user or “shared.” This has the potential to redefine asset ownership on a decentralized layer 1 blockchain.
Leading up to its launch, SUI has raised enormous amounts of money, with Mysten Labs closing a $300 million Series B round and reaching a $2 billion valuation by September 2022, according to CrunchBase.
SUI Price Prediction 2023-2033
Based on the information available, it is challenging to predict the exact price of SUI. However, we can make a table showing the lowest and highest potential prices for SUI from 2023 to 2033, based on different scenarios.
| Year | Lowest Potential Price | Highest Potential Price |
|---|---|---|
| 2023 | $0.80 | $6.00 |
| 2024 | $3.50 | $11.00 |
| 2025 | $5.00 | $16.00 |
| 2026 | $7.00 | $22.00 |
| 2027 | $12.00 | $30.00 |
| 2028 | $15.00 | $40.00 |
| 2029 | $18.00 | $50.00 |
| 2030 | $20.00 | $60.00 |
| 2031 | $25.00 | $80.00 |
| 2032 | $30.00 | $100.00 |
| 2033 | $35.00 | $120.00 |
Please note that these predictions are hypothetical and based on various factors such as the success of the SUI launch, adoption rate, and competition within the industry. As with any cryptocurrency investment, it is essential to conduct thorough research and exercise caution before investing in SUI.