Uniswap Labs has officially announced the acquisition of Crypto: The Game, an interactive online survival game incorporating cryptocurrency mechanics. As of June 11, 2024, the financial details of the agreement are still unknown.

Uniswap (UNI) Acquired "Anon Island"

The second season of The Game, titled "Anon Island" drew a global audience of more than 800 crypto enthusiasts and generated a net prize pool that surpassed $281,000. The game elicited a significant amount of conversation on Crypto Twitter and included a variety of captivating in-app mechanics.

As part of the acquisition, all members of the Crypto: The Game (CTG) team will join Uniswap Labs, where they will continue their work on the eagerly anticipated season 3. Furthermore, the Uniswap community intends to conduct experiments with on-chain activations, as planned by CTG contributors and Uniswap.

According to representatives from Uniswap, the operational workflow for Crypto: The Game will remain unaltered. Season 3 will introduce new themes, variations, and on-chain features. In previous seasons, contestants invested 0.1 ETH, joined communities, engaged in daily challenges, and voted each other out throughout a 10-day season until a single individual emerged victorious with the entire prize pool.

Uniswap Lab Got A New CLO

In other news, Katherine Minarik, a former legal executive at Coinbase, has been appointed as the new Chief Legal Officer (CLO) of Uniswap Labs. Her appointment comes amid potential legal disputes with federal regulators in the United States. Minarik disclosed her new position two months after the SEC indicated that Uniswap Labs may face legal action for purported federal securities law violations.

Minarik is confronted with substantial obstacles. In April, a Wells Notice was issued to Uniswap Lab as an enforcement action. The SEC accused Uniswap Labs of being an unregistered securities exchange with some regulatory issues.

Uniswap (UNIUSD) Technical Analysis

In the daily chart of UNIUSD, the recent price shows a bullish continuation from the symmetrical triangle breakout. Moreover, the most recent Uniswap price showed an immediate downside pressure with a reversal above the 9.3059 level could work as a strong bullish factor.

Moreover, the high volume line since March 2024 is at the 10.7451 level, which is above the current UNI price. In that case, an upward continuation above the high volume line could validate the long signal, targeting the 15.5698 level.

On the bearish side, a downside momentum with a bearish reversal from the 11.0000 to 11.8167 level could lower the price towards the 8.0000 area before forming another long signal.

*Disclaimer: The content of this article is for learning purposes only and does not represent the official position of VSTAR, nor can it be used as investment advice.