Web3 Pioneer Mythical Games Raises $37M in Funding

Web3 gaming studio, Mythical Games, has achieved another milestone by securing $37 million in funding as the initial phase of a Series C extension round. Scytale Digital, a leading digital asset manager, led the capital influx. Other renowned investors contributing to this round include ARK Invest, Andreessen Horowitz, and Animoca Brands, further solidifying the trust and support for Mythical Games.

The recent funding news comes after the successful $150 million Series C round held in November 2021, driven by Andreessen Horowitz, which ushered the Seattle-based firm into the “unicorn” club, setting its valuation at a staggering $1.25 billion. Mythical Games has revealed its plans to wrap up the extension round later this year to secure an additional $20 million to $30 million in capital.

Impressive Achievements

A major driving force behind Mythical Games’ success is its unique Mythical Chain blockchain and gaming ecosystem, complemented by the Mythical Marketplace. These innovative platforms have given birth to popular blockchain-based games such as NFL Rivals and Blankos Block Party, taking the gaming world by storm. The NFL Rivals game, in particular, has proved immensely popular, achieving over a million downloads merely two months post its launch.

Looking Towards the Future

John Linden, the CEO of Mythical Games, stressed the company’s steadfast commitment to its vision and strategy, stating, “Mythical continues to be focused on producing the best games and building a dynamic marketplace bringing players and stakeholders directly into the game economies.” He also noted the firm’s impressive milestones, including “over a million mobile downloads of NFL Rivals since launch last month and averaging over $1 million in daily transactions via the Mythical Chain.”

Referencing past triumphs, Linden added, “Last year – thanks to Blankos Block Party – Mythical was one of the few web3 games to reach over 1 million player accounts.” The CEO concluded with ambitious expectations for the future, saying, “By the end of 2023, we anticipate over 20 million player accounts across our entire game portfolio, driven largely by NFL Rivals and the upcoming release of Nitro Nation World Tour. It’s a testament to not only the work we’ve accomplished of late but of the continued interest in and dedication to this new frontier of game economies.”

NFT Rivals stands out for supporting NFT-based pro players available for trading. However, this feature remains optional and doesn’t demand players to possess a crypto wallet or NFTs. According to Linden, the system automatically creates a wallet for players, making it accessible for those willing to dive into the world of NFT trading in the future.

As it stands, Mythical Games appears to be on an upward trajectory, using its fresh funding to fuel its ambitions of dominating the Web3 gaming landscape. The firm’s progress will undoubtedly be watched with interest as it pursues its profitability goals and potential Series D fundraising.