Mythical Games Secures $37 Million for Web3 Game Ecosystem
Written with artificial intelligence.
Mythical Games, a Seattle-based web3 game studio, has raised $37 million in an extension of its Series C funding round. The investment, led by Scytale Digital, includes contributions from major firms like ARK Invest and Animoca Brands.
Funding Details
Mythical Games has successfully raised $37 million as part of its Series C extension funding round. This extension follows a significant Series C round in November 2021, where the company raised $150 million and achieved a valuation of $1.25 billion, led by a16z. The studio aims to conclude this funding round later in the year, seeking an additional $20 to $30 million.
Company Highlights
Known for its blockchain Mythical Chain and the Mythical Marketplace, Mythical Games has made notable strides in the gaming industry with titles like NFL Rivals and Blankos Block Party. NFL Rivals, in particular, has surpassed one million downloads just two months post-launch.
Future Plans
Co-founder and CEO John Linden stated that the newly acquired funds will focus on optimizing operations and achieving profitability in 2023. Planned allocations include platform updates, infrastructure enhancements, and the development of new games. Upcoming projects also include Nitro Nation World Tour, a racing game featuring famous car brands, set to launch at the end of July.
Despite facing challenges such as executive departures and workforce reductions last year, the company remains optimistic. Enhancements to the Mythical Marketplace are underway, with a new in-game marketplace for NFL Rivals expected to launch in the coming months.