The developer behind the decentralized exchange Uniswap has acquired the increasingly popular crypto reality game, Crypto: The Game (CTG), ahead of its next “season.” This was reported by Fortune.
“We saw the excitement CTG generated, and Uniswap is focused on making the network experience more human and engaging,” said Uniswap Labs COO Mary-Catherine Lader.
The acquisition price was not disclosed, but the deal involved a combination of tokens and securities.
Crypto: The Game is a Web3 survival game launched in late January 2024. The project drew inspiration from TV shows like Survivor and Squid Game.
The game involves 800 participants who are gradually eliminated over ten days through competitions and votes until only one winner remains to claim the entire pot. Registration requires purchasing tickets priced at approximately 0.1 ETH.
The first season was won by a player from Japan, who took home $150,000. The finalist of the second season donated a prize of 71.8 ETH (~$210,000 at the time) to Tornado Cash developers Alexey Pertsev and Roman Storm.
According to OpenSea, NFT tickets for the spring season sold out in about 15 minutes, with some resold at a 40% markup.
Under the terms of the deal, CTG founders Dylan Abruscato, Tyler Cagle, and Brian Lee will continue developing the game as employees of Uniswap Labs.
Abruscato described the Web3 game’s community as a mix of crypto enthusiasts, venture capitalists, company founders, and well-known influencers. Meanwhile, 10-15% of those involved are “normal” users who had not previously engaged with the crypto market.
Simultaneously, Uniswap Labs has appointed former Coinbase CLO Katherine Minarik as its chief legal officer.
It is impossible to spend time in crypto and not be inspired by the potential of DeFi to change the world. So I am humbled to be taking on this new role at Uniswap Labs, continuing another part of the fight for economic inclusion and the future of finance for all of us. 3/x
— Katherine Minarik (@MinarikLaw) June 10, 2024
“It is impossible to spend time in crypto and not be inspired by the potential of DeFi to change the world. I am proud to take on this new role at Uniswap Labs, continuing the fight for economic inclusion and the future of finance for all of us,” she wrote.
Minarik is likely to face a legal battle against the SEC, which in April issued a Wells notice to Uniswap.
Uniswap’s founder, Hayden Adams, has criticized the “all-out war” on the industry by the SEC and Senator Elizabeth Warren as a major misstep by the Biden administration.
In May, Uniswap representatives urged the regulator to drop the lawsuit, calling the agency’s arguments weak.