Uniswap Labs has acquired the blockchain game Crypto: The Game (CTG), announced following a 6% increase in the UNI token’s price.
Uniswap Labs has announced the acquisition of the popular blockchain-based game Crypto: The Game (CTG). Uniswap Labs made this announcement public following the 6% increase in the UNI token’s price on the three-hour price chart.
Mary-Catherine Lader, Chief Operating Officer at Uniswap Labs, expressed excitement about the possibility of combining CTG’s interactive on-chain experiences with Uniswap’s products and services.
Uniswap Labs Acquires Crypto The Game
The strategic acquisition of CTG achieves this, aligning with the company’s goal of enhancing the enjoyment and simplicity of interactions with blockchain technology.
We have witnessed the porosity that CTG has produced the challenge, as stated by Lader, is to bring more humanity and joy to these encounters that take place throughout the blockchain. Rumors circulated that the payment comprised cash, tokens, and stock holdings; however, we can only speculate on the full terms of the actual agreement at this time.
The purchase encompasses both a business transaction and a collaborative effort with the objective of propelling the development of crypto games. Dylan Abruscato, Tyler Cagle, and Bryan Lee, who were the founders of CTG, will be members of the team working on Uniswap.
In the upcoming third season of CTG, the union plans to introduce a new crypto-experience interaction and pursue additional development. It is important to note that the companies have emphasized their decision not to include any marketing of the Uniswap wallet or an exchange in the game, in order to maintain the integrity of the game.
Cryptocurrency People have become addicted to the world of cryptocurrency and the game is drawing new members to the community. Between 10 and 15 percent of those who are new to cryptocurrencies are solely gambling on this game, according to estimates.
This indicates that it has the potential to serve as a gateway to decentralized finance. The e-sports game has successfully captured the attention of several community subgroups, including crypto gurus and venture investors, among others.
There are a number of primary initiatives that have contributed to CTG’s cult status in previous seasons. These strategies include sponsorship from some of the world’s most well-known brands, such as Addidas, and relationships with cryptocurrency companies, such as Wormhole.
The fact that the competition presents the players with challenges on a yearly basis and that the format is comparable to that of television series like Survivor has contributed to the popularity of this format.
UNI Token Gains 6% on Acquisition News
Following the announcement of the acquisition, the price of UNI has exhibited encouraging patterns on the three-hour price chart, which reflects the optimistic feelings of prospective investors. The token’s 6% increase, which occurred at the end of the most recent interval at $10.441, indicates that the market has responded positively.
The Relative Strength Index (RSI) is moving closer and closer to the overbought region at 64.60, which indicates that there is a possibility of future price consolidation or decline if the market considers UNI to be significantly expensive.
The Moving Average Convergence Divergence (MACD) indicator also indicates that the market is likely to move in a bullish direction.
It is possible that traders would perceive this technical indicator as a buy signal because the MACD line is about to cross above the signal line. This may further fuel the UNI token’s purchasing momentum.