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Autoverse Raises $1m from Coinbase Ventures’ Base Ecosystem Fund

And...Yuga Labs and Otherside break a world record – and Animoca announce unaudited financials.

AuthorAuthor

Jake Riley McCullough & Pet Berisha
March 12, 2025

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Introduction

Hey all, welcome to the first edition of Gaming Crypto!

We’re super excited to bring you insight and analysis into blockchain gaming every week. 

This newsletter is for builders, operators and founders. 

🎮️ 3 Things You Need to Know

🏁 Autoverse Raises $1m from Coinbase Ventures’ Base Ecosystem Fund

Auto Legends is a drag racing Web3 game, and have added $1m in strategic invesntment from Coinbase Ventures’ Base Ecosystem Fund to its existing $8m round, joining investors like Operating Group and Draper Dragon. 


Key Points:

  • Auto Legends has a team of industry veterans from top gaming studios and a legacy of creating hit racing franchises that have attracted over 65 million players

  • The team previoiosuly built Car Town and Racing Rivals, Nitto 1320 Legends and more.

  • They recently announced their inaugural NFT mint, granting early supporters exclusive in-game rewards

🦧 Yuga Labs’ Otherside breaks FPS Record

‘Otherside’, the metaverse operated by Bored Ape Yacht Club creators Yuga Labs had 2,197 players taking part in ‘Project Dragon’ – breaking the record for most concurrent players in a first-person shooter.

Key Points:

  • Yuga Labs plan to formally launch Otherside to the public in June 2025, and Project Dragon was part of their testing.

  • The platform was built in collaboration with Msquared, who specialise in high fidelity, mass concurrent virtual world creation.

  • Otherside will be the first large scale launch by Yuga Labs that resembles something that isn’t the sale of a digital asset 

  • Recently, Yuga Labs wound down Dookey Dash, one of their games stating it’s ‘not the end’ for Dookey Dash.

🌐 Animoca Brands Publishes Unaudited Reports

Animoca Brands published their unaudited financials, with the headline figure being Q4 bookings seeing a 167% increase, going from $40m to $108m year on year.

Key Points:

  • Animoca say their digital asset advisory business has driven $57m in revenue.

  • The reporting also showed $14m in revenue from their investment management arm. 

  • The bigger contributors to the results were The Sandbox, Moca Network, Open Campus, Anichess, Gamee, TinyTap, Animoca Brands Japan, nWay, Eden Games, Blowfish Studios, Pixowl, and Crazy Defense Heroes (TOWER).

  • operating expenses were $217 million for the 12 months ending on 31 December 2024, a reduction of $29 million compared to the previous year.

🌐 More News

🏈 Chart of the week – NFL Rivals hits 200,000 owners 

Source: Cryptoslam

Mobile native Web3 game NFL Rivals has hit 200,000 owners of digital assets, since their launch in April 2023.

This comes at a similar time where the game has crossed $11m in total sales, and 1m total transactions. 

The NFL mobile simulator continues to go from strength to strength!

Thanks so much for reading!

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Disclaimers

This newsletter is for informational purposes only and is not financial, business or legal advice.These are the author’s thoughts & opinions and do not represent the opinions of any other person, business, entity or sponsor. Any companies or projects mentioned are for illustrative purposes unless specified.

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