Uniswap Labs Expands into Blockchain Gaming with Recent Acquisition
Uniswap Labs recently entered the blockchain gaming space with its purchase of ‘Crypto: The Game’ (CTG), an in style on-chain survival recreation.
During the second season of CTG, all 800 spots were sold out in just thirteen minutes. Uniswap Labs publicized its acquisition on Monday, noting that it was aware of the game’s wide audience.
“We’re really excited about making on-chain experiences more fun,” said Mary-Catherine Lader, the COO at Uniswap Labs, when talking about the new purchase. The terms of the deal have not been disclosed however they include a combination of cash, tokens and equity.
Dylan Abruscato, Tyler Cagle and Bryan Lee – the founders of CTG will become part of Uniswap team through this agreement; they are currently working on season three development together with some other interactive crypto projects being looked at under their collaboration.
READ MORE: ZkSync Unveils a New Community-Driven Governance Model
According to this show’s concept developers were influenced by such popular TV series as “Survivor” or “Squid Game”- participants had to buy 0.1 Ethereum each if they wanted join tribes where different challenges took place with prizes for winners; by sponsoring one challenge during second season Uniswap labs got insights on how attract more people who are new into cryptosystem.
The CTG has a large following among both influencers and newcomers in the crypto community, making it possible for converting DeFi idle account holders into active traders. This continuous crypto reality show game has seen tremendous interest since its launch.
Following the news of the acquisition, UNI token price surged by 4.5%, showing investors’ positive attitude. Its value went up 7% over the week period and had been on an upward trend within last month with remarkable 45% growth.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
