Mythical Games raises $75 million to accelerate NFT gaming

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The blockchain-based game developer is now developing an open-world multiplayer game with NFTs that may be played.

Mythical Games, a Los Angeles-based NFT game developer, announced a $75 million Series B funding with new and current investors. The fund will be used by the startup to popularise ownership in games through playable nonfungible tokens (NFTs).

The funding round was led by WestCap Group. Other participants include 01 Advisors, Gary Vaynerchuk’s VaynerFund, Galaxy Digital, Javelin Venture Partners, Alumni Ventures and Struck Capital. The game developer studio raised a total of $120 million so far.

Mythical Games is working on blockchain-based games, specifically games that use playable NFTs. The company is led by its CEO John Linden, who was the president of Seismic Games until the studio was acquired by the gaming giant Niantic.

“Via its Mythical Economic Engine and Mythical Marketplace, the team is providing a platform for game developers to create their own player-owned economies,” the announcement reads.

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Linden noted the meteoric rise of NFTs and blockchain in 2021, saying, “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.”

Blankos Block Party, an open-world multiplayer game, is the studio’s major project. The increased money will allow the team to expand into other gaming platforms and create new projects.

Blankos Block Party has NFT characters that players may obtain by playing the game. NFTs are verifiably distinct representations of digital and physical products that may be used in a variety of applications.

Recently, game development teams have begun to employ them as video game characters. Each NFT is unique in terms of design and price. Players may now purchase and sell their characters on Mythical’s freshly opened marketplace. The game is still under beta testing.

 

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