Uniswap Labs, a leading decentralized exchange, has announced its acquisition of the on-chain survival game "Crypto: The Game" (CTG) as it prepares to launch its highly anticipated third season.
The deal, which includes a mix of cash, tokens, and equity, ensures that the game's founders—Dylan Abruscato, Tyler Cagle, and Bryan Lee—will continue to develop CTG, now as part of the Uniswap Labs team.
The game debuted earlier this year and has quickly captured the interest of the crypto community. During the game's second season, all 800 NFT passes were sold out in less than 15 minutes, with resale prices showing a 40% markup.
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CTG, inspired by TV shows like "Survivor" and "Squid Game," involves contestants competing in various challenges. Players pay an entry fee of 0.1 ETH (around $354 at the time of writing) and are divided into ten groups of 80. The competition lasts 10 days, during which participants face daily challenges and vote each other out.
The game continues until only one winner remains, claiming the entire prize pool. In the first season, a player from Japan won more than $150,000, with the prize pool growing to around $250,000 in the following season.
Mary-Catherine Lader, Uniswap Labs' COO, expressed excitement about acquiring the game, stating:
We've seen CTG generate a ton of excitement and Uniswap is focused on making on-chain experiences more human and fun.
This acquisition is an indication of Uniswap Labs' commitment to strengthening its influence and providing engaging, innovative experiences within crypto.
This news comes at a legally challenging time for Uniswap Labs, having received a Wells notice issued by the SEC in April, which Uniswap has recently contested.
