Los Angeles-based NFT game developer Mythical Games has announced $ 75 million Series B funding with new and existing investors. The company plans to use the fund to popularize game ownership through playable non-fungible tokens (NFTs).
The WestCap Group was responsible for the financing round. Other participants are 01 Advisors, Gary Vaynerchuk’s VaynerFund, Galaxy Digital, Javelin Venture Partners, Alumni Ventures and Struck Capital. The game development studio has raised a total of $ 120 million to date.
Mythical Games is working on blockchain-based games, especially games that use playable NFTs.. The company is led by its CEO John Linden, who was President of Seismic Games until the studio was taken over by the game company Niantic.
“Through its Mythical Economic Engine and Mythical Marketplace, the team offers game developers a platform to create their own player-owned economies.”reads the ad.
Pointing to the meteoric rise of NFTs and blockchain in 2021, Linden said: “This new capital will allow us to continue to lead the industry towards a new ‘play to win’ model where various stakeholders such as gamers, artists, content creators and brands now directly influence the gaming industry.”.
The studio’s main project is Blankos Block Party, an open world multiplayer game. The latest funding will allow the team to expand to other gaming platforms and develop new projects.
Blank Block Party features NFT characters that players can earn while playing. NFTs are unique verifiable representations of digital and physical assets that can be applied to multiple use cases.
Game development studios have recently started using them as video game characters. Each NFT is generally different in design and value. The newly launched Mythical Marketplace allows players to buy or sell their characters. The game is still in beta.