Mythical Games, the developer of Blankos Block Party and NFL Rivals web3 games, remains unicorn with the latest funding round.
Mythical Games, the proud developers of NFL Rivals and Blankos Block Party, has successfully secured 37$ million in Series A funding round. The dominating firm further seeks $20–30 million in value to be made public later this year. According to a statement from Mythical Games, the funding will allow to carry out Mythical ambition of providing creativity to video games through Web3 infrastructure. Scytale Digital served as the lead investor in the Series C1 expansion round. Other new investors included ARK Invest, Animoca Brands, MoonPay, Proof, and Stanford Athletics. This round also included previous investors Andresseen Horowitz, WestCap, Struck Capital, Signum Growth, and Gaingels.
More Funding in the Works for Mythical Games
The CEO and co-founder of Mythical Games, John Linden, stated that some of the key investors for the round are still in deals and that a second closure is expected for later in 2023.
In November 2021, the company raised a $150 million Series C financing led by Andreessen Horowitz, which gave it a $1.25 billion "unicorn" valuation. Since "a lot of the conditions are very similar" to the Series C, Mythical decided not to issue a Series D this time around, according to Linden.
Our focus is getting to profitability, and we believe this round is what it does,” Lindsen said. “We think within 12 months, we can be profitable off of what we're doing.”
NFL Rivals Surpassed 1 Million Downloads
NFL Rivals, a mobile game with an official license from Mythical Games, surpasses 1 million downloads as of latest news. The NFT-based professional players are supported in the mobile game and can be traded. However they are an optional component that are not included in the app directly. NFTs are not required to play, but Linden noted that a digital wallet is instantly established for each user if they later decide to purchase or trade NFTs.
Linden said: We made sure to target a massive audience because a lot of people are still unaware of Web3. They find it difficult to understand the mechanism of personal keys. NFL Rivals intends to gradually add more Web3 components to the gameplay and perhaps encourage people to explore such capabilities. One such feature is bids, which will allow NFT traders to make offers for player cards. This action could encourage other players to consider the advantages of owning and trading commodities. The CEO and co-founder of Mythical Games continued by adding: “If you're suddenly sitting on a Patrick Mahomes card, you might not know that it's fully tradable and sellable right when you first get it. But if somebody says, ‘Hey, I'll give you $100 US for that card because I want it for my collection,’ it’s going to educate people very quickly.”
Mythical plans to Integrate NFT Marketplace into the NFL Rivals App
In addition, Linden explains Mythical is in talks with Apple and Google about the prospect of integrating the NFT marketplace seamlessly into the NFL Rivals app, which will be difficult with the varrying stance by the tech behemoths on NFTs. In-app purchases from Apple and Google includes a hefty fee of up to 30%, which is not feasible with Web3.
Actually, Mythical has been collaborating with both app stores on integrating the marketplace into the game. They have come a long way with it.
With the upcoming new season later this summer and the upcoming NFT-driven mobile drag racing game Nitro Nation World Tour, Mythical continues to promote NFL Rivals. As previously mentioned, The Mythical Chain is also planning to move to Polkadot. It will the remainder of 2023 very crucial time for the firm. In 2021, Mythical Games secured $150 million from Andreessen Horowitz, followed by another $75 million. According to the release, the firm estimates at $1.25 billion after raising $150 million. It still holds a value of more than $1 billion following the second investment round.
"NFL Rivals and the release of Nitro Nation World Tour expects to generate over 10 million user accounts throughout Mythical's whole game portfolio by the end of 2023.
More About Mythical Games
Mythical is a dominating firm developing next-generation gaming technology that is building a web3 gameplay environment by using interactive NFTs and blockchain technology for tools that let users, producers, artists, marketers, and game developers participate in and control new "play and own" game financial markets.
The team, which is led by veterans of the gaming industry, specializes in creating games with player-owned economics and has worked on such well-known titles as Call of Duty, World of Warcraft, Guitar Hero, DJ Hero, Marvel Strike Force, and Skylanders. Mystical platform offers a custodial wallet to safeguard players who may be unfamiliar with blockchain technology. It will give more experienced players the opportunity to connect their own wallets via links between the Mythical Games' Chain and public mainnets.
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