Auto Legends, a drag racing game based on Web3, has secured a significant strategic investment of 1 million dollars

This investment is part of a larger funding round of 9 million dollars, which also includes support from Operating Group and Draper Dragon.

The Web3 drag racing game Auto Legends has reportedly secured a major strategic investment of $1 million from the Base Ecosystem Fund of Coinbase Ventures.

This investment is part of a larger funding round of $9 million, which also includes contributions from Operating Group and Draper Dragon.

Highlighting Coinbase’s interest in the game, the game is said to be aiming to offer a high-quality racing experience, combining the expertise of AAA video game veterans with the promise of digital ownership through blockchain.

This new influx of funding is said to be pushing forward the development of the game, showcasing the institutional confidence in the long-term vision of Auto Legends to fuse traditional racing games with blockchain-driven ownership.

"We are excited to support a team that has a strong track record in building world-class racing games that are engaging the Web3 gaming generation with a compelling vision for the future, " said Shan Aggarwal, VP, Corporate and Business Development Ventures at Coinbase.

According to the statement, in addition to the investments, Auto Legends has announced the hiring of Scott Probin, a veteran of the video game industry with over 35 years of experience, known for his work on fan-favorite titles such as Need for Speed Hot Pursuit 2 and For Honor.

Recently working on Off The Grid, a popular Web3 shooter, Probin will have a key role in further refining the gameplay, integrating Web2 players, and strengthening the player-owned economy within the game.

"Scott brings a wealth of experience from developing and launching AAA games over the last two decades, and he is a car and racing game enthusiast at heart, so he'll be able to help us create an experience that is truly authentic to the types of games and cars that people love," said Peter Pham, co-founder and CEO of Auto Legends.

The game is preparing for its first NFT launch, offering early supporters the chance to claim exclusive cars in the game ahead of the official launch.

This mint will introduce limited-edition digital collectibles that drivers can use to compete in the game’s ecosystem.