Los Angeles, NFT-based developer Mythical Games has announced $ 75 million in Series B funding with new and existing investors. The company plans to use the fund to popularize game ownership through playable non-functional tokens (NFTs).
The round of funding was led 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 has so far raised a total of $ 120 million.
Mythical Games works on blockchain-based games, specifically games that use playable NFTs. The company is led by CEO John Linden, who was president of Seismic Games until the studio was acquired by gaming giant Niantic.
“Through the Mythical Economic Engine and Mythical Marketplace, the team provides game developers with a platform to create their own player-owned economies,” the announcement said.
Linden noted the meteoric rise of the NFT and blockchain in 2021 and said: “This new capital will allow us to continue to introduce the industry to the new play-to-income model, where various stakeholders such as players, artists, content creators are now and brands. directly affecting the economy of the game. “
The main project of the studio is Blankos Block Party, a multiplayer game in the open world. The latest funding will allow the team to expand to other gaming platforms and develop new projects.
Blankos Block Party offers NFT characters that players can earn while playing. NFTs are a demonstrably unique representation of digital and physical goods that can be used for multiple use cases.
Game developer studios have recently started using them as game game characters. Each NFT generally differs in design and value. The newly launched Mythical Marketplace allows players to buy or sell their characters. The game is still in beta.