US-based Mythical Games, an NFT games startup for player-owned economies, raised US$ 75 million in a Series B funding round on 9 June 2021.
Investors: The funding round was led by WestCap with participation from existing investors 01 Advisors and Gary Vaynerchuk’s VaynerFund. The startup has raised US$ 120 million to date.
Purpose of the funding: The funds will be utilized by the startup to expand their first title and locate a substantial platform opportunity amid helping developers build blockchain-based gaming experiences.
About Mythical Games
Founded in 2018 by Cameron Thacker, Chris Downs, Jamie Jackson, John Linden and Rudy Koch, Mythical is the next-generation game technology studio that believes in true ownership of digital assets, verifiable scarcity and integrated secondary markets spawning a new generation of games. These new economies shall bring players, developers and content creators closer to the games they love.
The Mythical Games team of veteran game developers has a passion to bring big innovative concepts to market. It aims to create world-class products that drive consumer adoption of distributed ledger technology through games.
The startup is bringing blockchain-based game mechanics to the mainstream. Users can purchase avatars on the platform with cryptocurrency through BitPay but the option to pay with a credit card is also available.
Mythical Games has been working on building a title called Blankos Block Party that seems to be Fall Guys meets Roblox meets Funko Pop. It is a PC game that capitalizes on a number of big social gaming trends around user-created content. Users can buy or sell avatars or open edition items through their marketplace. The goods live on a private blockchain so they can’t be re-sold on public marketplace platforms like OpenSea.
The platform has been designed to help game builders create NFT-based marketplaces that won’t get them in any regulatory trouble or compliance across geographies. It also provides tools that help creators comply with anti-money laundering laws and know-your-customer frameworks.
What the CEO has to say: “With any new market like NFTs, it goes through all these different cycles. We think this will actually change gaming for the long haul. The more we talk to game studios, we’re finding more and more potential use cases.” — John Linden, Mythical Games CEO.
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