Uniswap Labs acquires 'Crypto: The Game' ahead of its third season
Quick Take
- Uniswap Labs has acquired Crypto: The Game, an on-chain Survivor-esque competition, for an undisclosed price, Fortune reported on Monday.
- As part of the deal, CTG’s co-founders are joining Uniswap Labs, where they will continue to work on future seasons of the game.
"Crypto: The Game," an on-chain Survivor-esque contest, has come under Uniswap Labs’ ownership as it prepares to launch the elimination game's next “season.”
Uniswap Labs acquired the popular crypto-focused game in a mixed cash-token-and-equity deal, Fortune Magazine reported on Monday. Under the terms of the deal, CTG founders Dylan Abruscato, Tyler Cagle and Bryan Lee will continue to develop the game as employees of Uniswap Labs.
“We’ve seen CTG generate a ton of excitement and Uniswap is focused on making on-chain experiences more human and fun,” Uniswap Labs’ chief operating officer Mary-Catherine Lader said Monday to Fortune Magazine.
Uniswap Labs did not disclose the price it paid to purchase CTG and did not immediately respond to The Block’s request for comment.
"Crypto: The Game," which launched earlier this year, has had some buzz for an on-chain game. NFT passes to enter the competition’s second season sold out in less than 15 minutes, with some of the 800 passes trading at a roughly 40% markup in resale, according to OpenSea data.
The acquisition comes at a time of uncertainty for Uniswap Labs. In April, the creator of the eponymous decentralized exchange received a Wells Notice, indicating it could soon become the focus of an investigation by federal securities regulators.
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