Uniswap Labs Buys Popular Crypto Game 'CTG' to Expand Gaming Portfolio

Uniswap Labs Buys Popular Crypto Game 'CTG' to Expand Gaming Portfolio

BlockchainGaming

By Jakub Lazurek

11 Jun 2024 (8 days ago)

2 min read

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Uniswap Labs has acquired the hit blockchain game 'Crypto: The Game' to enhance its gaming portfolio, marking a major step in merging crypto and gaming.

Uniswap Labs has recently ventured into the blockchain gaming industry by acquiring 'Crypto: The Game' (CTG), an on-chain survival game.

CTG’s second season saw huge success, selling out all 800 spots in just 13 minutes. Uniswap Labs recognized the game's popularity and announced the acquisition. Mary-Catherine Lader, COO of Uniswap Labs, said, “We’ve seen CTG generate a ton of excitement, and Uniswap is focused on making on-chain experiences more human and fun.” The acquisition involves cash, tokens, and equity. CTG's founders, Dylan Abruscato, Tyler Cagle, and Bryan Lee, will join Uniswap to develop season three and create new interactive crypto experiences.

The game will not just promote Uniswap’s wallet or exchange. Dylan Abruscato, co-founder of CTG, expressed excitement about Uniswap's support, saying, “Now we have the full force of Uniswap Labs behind us, we think that’s going to help us make season three the best one yet.”

Inspired by shows like Survivor and Squid Game, CTG’s format involves players joining tribes for 0.1 Ethereum (about $367). Over ten days, participants face challenges, vote out players, and compete for a grand prize. The first season’s prize was over $150,000, while the second season’s prize was around $250,000.

Uniswap Labs sponsored a challenge in season two, partnering with Adidas and Wormhole. This sponsorship helped Uniswap understand the game's potential to attract new crypto users. Fortune Magazine noted CTG's strong following within the crypto community, with fans including crypto Twitter enthusiasts, venture capitalists, and influencers like 3LAU, Packy McCormick, and Bored Elon.

CTG also draws in “normies” (new to crypto), making up about 10%-15% of the audience. This helps bring new users into decentralized finance (DeFi). The previous season had around 50,000 unique website visitors over ten days. Abruscato described CTG as a “24/7 crypto reality show” with drama and fan favorites, making it a hit in the crypto community.

In summary, Uniswap Labs’ acquisition of ‘Crypto: The Game’ represents a significant step in merging gaming with crypto. With Uniswap's backing, season three is set to be more exciting, attracting a wider audience and integrating gaming with DeFi.

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