Autoverse Studios, the developer of the upcoming web3 drag racing game Auto Legends, has secured a $1 million investment from Coinbase Ventures

Auto Legends is designed to combine blockchain technology with the competitive world of drag racing, featuring licensed vehicles and customization options.

Startup: Autoverse Studios, the developer behind upcoming web3 drag racing game Auto Legends, has brought in $1 million in funding from Coinbase Ventures.

The investment from the crypto exchange giant adds to the company’s previously raised $8 million.

Auto Legends is designed to combine blockchain technology with the competitive world of drag racing, aiming to provide an engaging experience for both crypto enthusiasts and traditional gamers.

The game will feature licensed vehicles and offer extensive customization options, allowing players to modify their cars with real-world tuning parts.

As the gaming industry continues to explore blockchain integration, this investment underscores the growing interest in web3 gaming, especially among large institutions.

Coinbase Ventures’ participation in funding Auto Legends signifies the increasing convergence of the blockchain and gaming domains.

The new funds will likely support the game’s development and the expansion of Auto Legends’ ecosystem, which includes its vibrant community on Discord.

What is Auto Legends?

Auto Legends is a blockchain-based drag racing game that is currently in closed beta.

The game allows players to own and trade digital assets, such as cars, tuning parts, and cosmetic items. It features licensed vehicles from manufacturers like McLaren, Mitsubishi, Honda, and Mazda.

Starting with a basic car, players compete in drag races and modify their vehicles using licensed parts and tuning options from renowned brands.

The game is available for Windows and Mac through the Epic Games Store, and a mobile version is also in development.

Auto Legends is planning a broader release later in the year, aiming to reach a wider audience with its unique blend of drag racing and web3 technology.

What’s next for Auto Legends?

The investment follows recent hiring efforts by Autoverse Studios, including the addition of veteran game developer Scott Probin, formerly of Zynga and Microsoft.

Probin’s extensive experience in developing and launching successful triple-A game titles suggests a shift in focus towards making Auto Legends more accessible to traditional gaming audiences.

During his time at Zynga, he played a key role in overseeing the company’s transition to free-to-play games and expanding their reach to new audiences.

Moreover, Auto Legends is expected to continue refining its gameplay and expanding its player base. The company has announced plans for its first NFT mint on Magic Eden, offering early adopters the opportunity to claim exclusive in-game assets.

Community engagement through its official Discord server is also a priority, where updates on development and future releases are shared regularly. Members of the community are actively involved in shaping the game’s direction.

With backing from notable investors and industry experts, the project is set to make further announcements regarding development progress and partnerships in the coming months.