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Autoverse Studios Raises $8 Million for Auto Legends Drag-Racing Game

Autoverse Studios announced an $8 million round for Auto Legends in 2024. Later reporting raised the total to $9 million; Steam currently lists the drag-racing game as coming soon and in closed beta.
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Autoverse Studios announced an $8 million financing round in August 2024 to develop Auto Legends, a social drag-racing game built around car collecting, tuning and multiplayer competition. Later reporting said Coinbase Ventures’ Base Ecosystem Fund invested another $1 million, bringing reported funding to $9 million. As of October 8, 2026, Steam lists the game as coming soon and in closed beta—not as a released game.

Who funded Auto Legends?

GamesBeat reported that White Star Capital led Autoverse Studios’ initial $8 million round, with Sfermion, RockawayX, Ocular, Sidedoor Ventures, MCE Group, Saison Capital and LiquidX also participating. Automotive and game-industry backers were reported among the participants. Peter Pham, Autoverse’s CEO, separately named several investors in a first-person announcement, but the available reports are not audited financial disclosures.

In a March 6, 2025 follow-up, GamesBeat/VentureBeat reported a further $1 million strategic investment from Coinbase Ventures’ Base Ecosystem Fund, bringing the reported total to $9 million. That report also mentioned an inaugural NFT mint for early supporters; it does not establish whether a mint is currently available or what the game’s present asset economy looks like.

What kind of game is Auto Legends?

Auto Legends centers on straight-line drag racing and the car enthusiast experience around it. The current Steam listing describes choosing a starter car, fitting performance parts, tuning it and creating a custom design before competing for cash, cars or status. It advertises matchmaking across straight-line race modes, live spectators, garages, teams, leaderboards and achievements.

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GamesBeat’s 2024 coverage described a broader intended feature set, including car collection, realistic aftermarket-part tuning, social meetups, head-to-head races, teams, tournaments, tuning services, dealerships and player-created parts. At that time, the report said the game had licensed cars from seven real-world brands, representing more than 50 models and trims, and that parts from more than 20 brands or manufacturers were planned. Those are 2024 descriptions, not a verified current catalog.

What does “Web3” mean here?

When the round was announced, Autoverse framed Web3-enabled ownership and trading of in-game assets as part of the game’s ambition. CEO Peter Pham told GamesBeat: “When we started Autoverse Studios, we wanted to not only evolve the straight-line racing category, but also revolutionize the games industry as a whole with new social gameplay mechanics, creator support, and enabling players to own and trade their in-game assets.”

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That statement describes the studio’s announced direction, not proof that blockchain-based ownership or trading is currently live in the game. The 2025 report of an early-supporter NFT mint is likewise a historical announcement; it does not confirm present mint availability or in-game functionality.

Is Auto Legends available to play?

As of October 8, 2026, Steam labels Auto Legends “Coming soon” and says it is currently in closed beta. The listing provides a request-access playtest flow and warns that progress data may reset during development. It identifies Autoverse Studios as both developer and publisher and lists Windows and macOS requirements.

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GamesBeat’s 2024 report described plans for a free-to-play release on PC, Mac, iOS and Android, with optional Web3 features accessed on the web. Those were plans at the time. The current Steam listing substantiates a PC and macOS storefront presence, but does not establish a mobile release or currently available Web3 features.

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Why did Autoverse pitch this team and concept?

GamesBeat reported that the team included leaders with experience at Cie Games, Glu Mobile, Riot Games, Xbox, EA, Ubisoft and Scopely. It also reported that Cie Games’ earlier titles Nitto 1320 Legends, Car Town and Racing Rivals collectively reached 140 million players. That audience figure is GamesBeat’s 2024 reporting, not an independently verified audited measure.

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The pitch connects a familiar car-collecting and tuning loop with social competition and creator participation. Executive chairman Justin Choice summarized the aspiration this way: “The whole point of the game is actually to become legendary, as we call it Auto Legends.” Whether that concept delivers will depend on the game’s eventual release and the features players can actually use.

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Cars 3: Driven to Win - PlayStation 4
Cars 3: Driven to Win - PlayStation 4
Catch air and perform as many stunts and tricks to get the highest score

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