Mythical Games Raises $75 Million Funding To Boost NFT-Based Gaming
The non-fungible token (NFT) market is no raging as much as it used to at the start of the year as demand from retail investors dropped sharply in Q2 2021. Despite the downturn, investments in NFT are still well alive as venture firms believe the NFT market will return to its glory days in the near future.
Mythical Games, the creator of the popular NFT blockchain game, Blankos Block party, raised $75 million in Series B funding led by growth equity fund WestCap Group. The funding aims to expand the firm’s blockchain gaming experiences and boost the development of the Blankos Block Party game.
The Series B funding round saw existing, and new investors participate in the round. New investors in the firm include 01 Advisors and influencer and serial investor Gary Vaynerchuk’s VaynerFund. The Series B funding brings the total funds raised by Mythical Games to $120 million to date.
The main attraction to Mythical Games is the Blankos Block Party, a blockchain-based NFT collectibles game that allows players to create their games and own their virtual worlds. The game is built around user-generated content and focuses on integrating the latest social media trends. Blankos also includes the Mythical Marketplace, where users can buy and sell avatar figures and in-game assets collected within the game or created by top artists and game developers in partnership with the firm.
Notwithstanding, the platform also includes the Mythical Economic Engine, which connects the gaming platform to other gaming engines and helps new game creators build regulatory-friendly NFT collectibles. Mythical Games CEO John Linden tells TechCrunch,
“With any new market like [NFTs], it goes through all these different cycles.”
“We think this will actually change gaming for the long haul. The more we talk to game studios, we’re finding more and more potential use cases.”