Uniswap Labs made a significant move into the blockchain gaming industry with its recent acquisition of “Crypto: The Game” (CTG), a blockchain survival game.
The second season of CTG was particularly successful, with all 800 available seats sold out in just 13 minutes. Recognizing the popularity of the game among the core crypto community and outsiders, Uniswap Labs announcement acquisition on Monday.
Uniswap Labs and CTG founders team up
In a statement to Fortune, Mary-Catherine Lader, COO at Uniswap Labs, expressed her excitement about the acquisition, saying: “We’ve seen CTG generate a ton of excitement, and Uniswap is working to make more human and fun on-chain experiences. Although the exact amount of the purchase is not disclosed, it is a combination of cash, tokens, and equity.
Under the terms of the acquisition, CTG founders Dylan Abruscato, Tyler Cagle and Bryan Lee will join the Uniswap team. Together, they are currently collaborating on the development of season three while exploring new interactive features. cryptographic experiments for consumers.
It is important to note that the game will not simply become a promotional platform for Uniswap players. wallet or exchangeas the companies clarified during a conference call.
Dylan Abruscato, co-founder of Crypto The Game, expressed his excitement over the support of Uniswap Labs, stating: “Now that we have the full strength of Uniswap Labs behind us, we believe this will help us make the best third season yet. »
Convergence of gaming and crypto communities?
Inspired by popular television shows like Survivor and Squid Game, the first two seasons of CTG followed a format in which participants purchased 0.1 Ethereum (ETH) (around $367) to join one of ten tribes made up of 80 players.
Over the course of ten days, participants engaged in daily challenges voted for each other and ultimately competed to win a grand prize. The first season saw a Japanese player win a pot of over $150,000, while the prize pool reached around $250,000 in the second season.
Uniswap Labs sponsored a challenge during the second season, teaming up with partners such as Adidas and Wormhole. This sponsorship would have provided Uniswap with valuable insight into the game’s ability to attract new users to the crypto world.
According to Fortune Magazine, CTG has gained a “cult” following within the crypto communitywith enthusiasts closely following developments in the game via various platforms, including podcasts and media.
Dylan Abruscato highlighted the diversity of CTG’s fan base, which includes crypto Twitter enthusiasts, venture capitalists, founders, and influencers like 3LAU, Packy McCormick, Jesse Pollak, and Bored Elon.
Importantly, the game has also managed to captivate “norms” (people new to crypto) who make up around 10-15% of the audience, providing the opportunity to onboard new users into the world of decentralized finance (Challenge).
Although the precise number of viewers during the previous season remains unknown, CTG recorded approximately 50,000 unique visitors to its website during the ten days of play.
Dylan Abruscato described the game as a “24/7 crypto reality show” with villain arcs, drama, and fan favorites, which has become a spectacle within the crypto community.
Currently, the UNI token is trading at $10.29, representing a significant increase of 4.5% after the acquisition announcement.
Additionally, the token saw a remarkable 7% increase in the past week alone, contributing to its overall upward trend seen over the past month, which resulted in an impressive 45% price increase.
Featured image of DALL-E, chart by TradingView.com
