Home Business “Autoverse Studios Raises $8M to Develop Social Drag-Racing Game Auto Legends”

“Autoverse Studios Raises $8M to Develop Social Drag-Racing Game Auto Legends”

Autoverse Studios, led by executive chairman Justin Choice, has raised $8 million to develop its new Web3 game, Auto Legends. The game aims to capture the journey of car enthusiasts and offer multiple paths to becoming an automotive legend. Players can participate in various activities such as racing, collecting cars, owning teams, hosting tournaments, providing tuning services, and more. Auto Legends is available on PC and Mac in a closed alpha testing environment.

Choice and his team, which includes former members of Cie Games, Glu Mobile, Riot Games, Xbox, EA, Ubisoft, and Scopely, are determined to create another successful mobile racing franchise. Their previous games, including Car Town and Racing Rivals, collectively reached 140 million players and were the top auto games on their respective platforms.

Auto Legends differentiates itself from other racing games by incorporating Web3 mechanics, ownership, and trade. The game allows players to buy limited-edition cars, customize them with realistic aftermarket parts, participate in races, and even engage in high-stakes “pink slip” races where ownership of the car is at stake. The game also features real-life licensed car brands and regular updates based on community recommendations.

The company has secured $8 million in funding from investors such as White Star Capital, Sfermion, RockawayX, Ocular, Sidedoor Ventures, MCE Group, Saison Capital, and LiquidX. Notable figures from the car industry and game industry veterans have also joined the round, including Horacio Pagani, Miller Motorcars, Niccolo De Masi, and Alex Thabet.

Auto Legends aims to provide a social, authentic, and competitive vehicle ownership experience. Players can earn XP, cash, leaderboard status, and rare car parts as they progress in the game. The ultimate goal is not just to win races, but to become recognized as a legend and gain a large following. The game emphasizes skill gaming, esports tournaments, Web3 ownership, and detailed car capitalism, offering players a unique and immersive experience.

Choice believes that Web3 technology has the potential to revolutionize the gaming industry by allowing players to monetize their in-game activities and own and trade their assets. Auto Legends incorporates blockchain technology to store information about cars, their parts, ownership history, and more. The game also enables players to interact with car companies and potentially receive real-life recognition, such as visits to private museums and personalized letters from CEOs.

Auto Legends aims to attract both Web3 and Web2 audiences, as it combines the appeal of cryptocurrency and the familiarity of car culture. The game offers an innovative user acquisition model where players can invest in aspects of the game, such as virtual car dealerships, and profit from in-game car sales. This approach provides a non-dilutive way for players to support the game’s success and fund user acquisition.

In conclusion, Autoverse Studios is taking on the challenge of creating a compelling and immersive drag-racing game with Auto Legends. The game aims to offer a unique gameplay experience, incorporating Web3 mechanics, ownership, and trade. With a talented team and significant funding, Autoverse Studios is poised to create another successful mobile racing franchise and revolutionize the gaming industry.

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