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Bitcoin and Ethereum rebounded slightly in September, but both blockchains paled in comparison to Sui, which rallied 100% for the month.
The Ethereum competitor, which boasts far faster transaction speeds than most alternatives in the space, has largely bet that Web3 gaming will be its breakthrough use case. That bet seems to be paying off with its token up 103% since the beginning of the month. Bitcoin and Ethereum traded up 11% and 6% for the month, respectively.
Mysten Labs co-founder Evan Cheng recently described why Sui sees so much potential in gaming that it helped launch the first Web3-dedicated gaming device, the SuiPlay0x1 this month. As Cheng says, it’s about building a platform that redefines what ownership can mean in the digital age.
“Sui is not just a blockchain. It’s a platform for developers,” Cheng emphasized during an interview with Coinage, making it clear that the project’s ambition is to be a lot more than just a ledger for transactions.
When asked about the decision to go beyond software and dive into hardware, Cheng highlighted the importance of solving a fundamental issue: Distribution. “You know, probably a lot of times people think about, like, oh, what can Web3 and crypto do for consumers — that’s very important to figure out,” Cheng explained. “But before that, how do we help developers figure out the new business model that can last? It’s just as important.”
That’s where Sui’s bet on its gaming device comes in. By providing a tight integration between hardware and the Sui ecosystem, the team is crafting a unique offering that could unlock new possibilities for developers, much in the same way Apple’s iPhone later enabled its App store. The device will cost $599 and offer unlocks that may very well pay for itself.
Cheng sees this device as more than just a gaming PC or a typical handheld console—it’s a critical channel for distribution. “We know this is a device people are going to love because it can do more than your typical handheld gaming PC, but it has the tight integration with Sui,” he added, underscoring that this strategy will help bring “new experiences” to both users and developers.
It’s a bold claim, considering that Sui’s mainnet only went live in May of last year. While other projects are still navigating the waters of establishing a user base and developer ecosystem, Mysten Labs is doubling down on what it believes to be the missing piece of the puzzle — ownership and distribution through hardware. For Cheng and the team at Mysten Labs, success doesn’t just come down to deploying code and watching the blockchain run; it’s about crafting a holistic experience that solves fundamental problems.
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“Building an ecosystem is organic,” Cheng noted, reflecting on the journey so far. “We have very clear signals that we know what each of these tasks are about. Keeping Sui healthy at the forefront of this technology race is one thing, and solving distribution is another.” Solving user experience issues and minimizing the frictions of onboarding are also high priorities for the team, which Cheng attributes to their collective experience in tech and finance.
The relentless pace at which Mysten Labs has been moving since mainnet launch is something that Cheng is clearly proud of. But as he pointed out, it’s not about moving fast for the sake of it. “There is a plan behind it, right? This kind of goes back to the amazing team, the amazing vision that we have,” he said. And with a few more things slated to launch soon, the excitement is palpable.
Ultimately, Mysten Labs isn’t just focused on being the next big blockchain. It’s aiming to be a platform for developers to experiment, innovate, and push the boundaries of what’s possible in the digital economy.
If Sui’s aggressive push into hardware proves successful, it could be a game changer for how projects tackle the challenge of distribution and user engagement in Web3. And for Cheng, it’s clear that Sui is determined to lead the charge into this next chapter of blockchain evolution.
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