UNI set for a rally following Uniswap Labs' purchase of Crypto: The Game

Uniswap (UNI) Labs announced the acquisition of the survival game Crypto: The Game (CTG) in an X post on Monday. The announcement positively impacted UNI's price, which saw a 6% increase in the past 24 hours.

Uniswap Labs acquires Crypto: The Game, sees price surge hours after

Uniswap Labs, the company behind the decentralized exchange Uniswap, announced that it had acquired the on-chain survival-based game Crypto: The Game on Monday. The company initially hinted at this move on June 4 via a cryptic post on X that saw UNI's price rallying about 23%.

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Uniswap Labs has stated that it aims to amplify the survival gaming experience for players by using some of its on-chain experience. The company was also among the sponsors for the game's previous season, along with other prominent companies such as Adidas.

As part of the deal, the CTG team will work alongside Uniswap Labs to develop their game's third season, which has already garnered attention across the crypto community. The team includes CTG co-founders Dylan Abruscato, Tyler Cagle, and Bryan Lee.

Crypto: The Game became a sensation in the crypto community shortly after its release in January. Its follow-up season 2 in April also drew the attention of several users.

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The game draws inspiration from popular TV shows such as Squid Games, matching contestants against each other. CTG runs fully on-chain, with 800 gamers playing in a season that lasts for ten days, where only one winner takes the prize of 80 ETH. At the end of each season, the winner is voted by previously eliminated players.

Following the announcement on Monday, UNI's price surged by about 6%. UNI's price may continue to experience a rally, especially with the upcoming Crypto: The Game season 3.