Mythical Games raises $75M to speed up NFT gaming

Los Angeles-based NFT video games developer Mythical Games introduced a $75 million Series B financing with new and current traders. The firm plans to use the fund to popularize possession in video games by means of playable nonfungible tokens (NFTs).

The funding spherical was led by WestCap Group. Other members embrace 01 Advisors, Gary Vaynerchuk’s VaynerFund, Galaxy Digital, Javelin Venture Partners, Alumni Ventures and Struck Capital. The game developer studio raised a complete of $120 million thus far.

Mythical Games is engaged on blockchain-based video games, particularly video games that use playable NFTs. The firm is led by its CEO John Linden, who was the president of Seismic Games till the studio was acquired by the gaming large 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.

Linden famous 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.”

Related: Ever wonder what is an NFT? Here’s a quick guide

The primary challenge of the studio is Blankos Block Party, an open-world multiplayer game. The newest funding will allow the workforce to broaden into different gaming platforms and develop new tasks.

Blankos Block Party gives NFT characters that gamers can earn whereas taking part in. NFTs are verifiably distinctive representations of digital and bodily items that may be utilized to a number of use instances.

Game developer studios not too long ago began to use them as video game characters. Each NFT usually differs in design and worth. Mythical’s newly launched market permits gamers to purchase or promote their characters.
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The game remains to be within the beta part.