Next-Gen Game Developer Mythical Raises $75M for Playable NFTs

The funding round will offer external game developers a way to bring NFTs into their fictional worlds.

AccessTimeIconJun 11, 2021 at 4:51 p.m. UTC
Updated May 9, 2023 at 3:20 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Mythical Games is opening its non-fungible token (NFT) platform to external game developers following a $75 million funding round.

The primary game in development, Blankos Block Party, includes animated NFT game characters as well as customizable aesthetics players earn through gameplay. Players in the beta version already hold more than 100,000 NFTs, and as the audience continues to grow, Mythical expects these rare assets will accrue value in the secondary markets.

  • Earn Alliance CEO on Helping Gamers Discover Web3
    17:22
    Earn Alliance CEO on Helping Gamers Discover Web3
  • Web3 Gaming Market Still Growing in 2023: Game7 Data
    01:21
    Web3 Gaming Market Still Growing in 2023: Game7 Data
  • State of Web3 Gaming in 2023
    08:11
    State of Web3 Gaming in 2023
  • Metaverse-Focused Gala Games to Airdrop Version 2 Tokens in May
    05:55
    Metaverse-Focused Gala Games to Airdrop Version 2 Tokens in May
  • A bevy of investors found that thesis worth backing. WestCap Group, primarily backed by former Airbnb and Blackstone executive Laurence Tosi, led the Series B round, with participation from Gary Vaynerchuk’s VaynerFund, Galaxy Digital, Javelin Venture Partners and others.

    The eight-figure round suggests that investor interest in NFTs remains strong even as NFT markets have cooled since their March peak.

    The broader goal of Mythical is to “bring blockchain gaming to the masses,” said Adam Bain of investor 01 Advisors. With the additional funding, Mythical aims to build a ”platform for game developers to create their own player-owned economies,” the firm said in a press statement.

    Traditional game platforms discourage transferring or selling of items owned by players, spawning the use of black and gray markets where users become vulnerable to potential scams. Some games even punish players who participate in these trades by banning them from  the game site. NFTs represent a potentially new model.

    Mythical said transactions occur on its own private blockchain. In June 2020, Rudy Koch, the firm’s co-founder, said it intended to run on the EOS mainnet. Whether that’s still the case is unclear.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.