Mythical Games Raises $75M for NFT Game Engine Development

NFT Gaming Startup Mythical Games Secures $75 Million Funding

Despite a recent decline in NFT sales from peak levels, companies focused on realizing the technology’s potential continue to attract significant investment. Investors maintain a strong belief in the long-term value of crypto collectibles, extending beyond the recent period of heightened speculation.

Mythical Games' Series B Funding

Mythical Games, a Los Angeles-based startup specializing in NFT games, has successfully raised $75 million in a funding round. This investment comes from both new and existing investors who are confident in the company’s vision.

The funding will be used to broaden the scope of their initial game and to establish a robust platform. This platform will empower developers to create blockchain-based gaming experiences.

Investment Details

WestCap spearheaded the Series B funding round. 01 Advisors and VaynerFund, led by Gary Vaynerchuk, also participated as existing investors. To date, the startup has accumulated a total of $120 million in funding.

Blankos Block Party: A Unique Gaming Experience

The company is currently developing Blankos Block Party, a game that blends elements of Fall Guys, Roblox, and Funko Pop. This PC game leverages popular social gaming trends, particularly user-generated content.

A key feature is a marketplace where players can acquire avatar figures and accessories designed by a diverse group of artists and designers partnered with Mythical Games. These items are available for purchase or resale through the platform’s marketplace.

Notably, the NFTs reside on a private blockchain, preventing resale on public marketplaces such as OpenSea.

Streamlining Blockchain Integration for Users

Mythical Games is contributing to a growing trend of integrating blockchain technology into mainstream gaming. This involves moving away from aspects of crypto platforms that are not yet fully prepared for widespread adoption.

Players can purchase avatars using cryptocurrency via BitPay, or alternatively, utilize a standard credit card. The platform simplifies the process, eliminating the need for users to create a digital wallet or manage seed phrases.

The Mythical Economic Engine: A Platform for Developers

While Blankos Block Party holds promise, the most significant investment opportunity may lie in the company’s game engine. The Mythical Economic Engine is designed to assist game developers in creating NFT-based marketplaces.

This engine prioritizes regulatory compliance across different regions and provides tools to help creators adhere to anti-money laundering (AML) regulations and know-your-customer (KYC) frameworks.

Looking Ahead

“With any new market like [NFTs], it goes through all these different cycles,” explains John Linden, CEO of Mythical Games, in an interview with TechCrunch. “We think this will actually change gaming for the long haul.”

He adds that conversations with game studios are revealing an increasing number of potential applications for this technology.