Arthur Cheong, who worked in oil trading before reinventing himself as a crypto fund manager, put money into a blockchain-based game called Axie Infinity last year. The so-called play-to-earn game, where users can earn digital currency by taking part, was raising $864,000 through a private sale of its tokens. They cost 8 cents each at the time. They were worth about $124 as of Friday in Asia, according to CoinMarketCap.com, which translates into a gain of more than 150,000%. Cheong said his fund invested more than $100,000, and declined to comment on how difficult it would be to exit. It’s an example of the kind of ... (full story)