Blockchain game developer Mythical Games raises $75M to boost NFT gaming
Los Angeles-based NFT games developer Mythical Games announced the completion of a $75 million Series B funding round with new and existing investors.
The game developer studio raised a total of $120 million so far and is planning to use the fund to popularize ownership in games through playable nonfungible tokens (NFTs).
The latest funding round was led by WestCap Group, with participants such as 01 Advisors, Gary Vaynerchuk’s VaynerFund, Galaxy Digital, Javelin Venture Partners, Alumni Ventures, and Struck Capital.
Mythical Games works on blockchain-based games specifically with playable NFTs. The company is led by CEO John Linden, the former president of Seismic Games until the studio was acquired by the gaming giant Niantic.
The announcement said, “Via its Mythical Economic Engine and Mythical Marketplace, the team is providing a platform for game developers to create their own player-owned economies.”
CEO Linden stated, “This new capital will allow us to continue leading the industry into a new play-to-earn model where various stakeholders like players, artists, content creators, and brands are now directly influencing the game economics.”
The main project of the company, Blankos Block Party, which is an open-world multiplayer game, offers NFT characters that players can earn while playing.
The game developer studios recently started using NFTs as unique video game characters. Each of them generally differs in design and value. Mythical’s newly launched marketplace allows players to buy or sell their characters. The game is in the beta phase.