The full round will close later this year with an additional $20-30 million in funding to continue developing the Mythical platform’s infrastructure
Mythical Games, the next-generation gaming studio behind the Mythical Chain, Mythical Marketplace, and popular gaming titles such as NFL Rivals and Blankos Block Party, and the soon-to-be-released Nitro Nation World Tour, has secured $37 million as part of its Series C1. Led by digital asset manager Scytale Digital, with participation from ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay, as well as participation from existing investors Andreessen Horowitz, Gaingels, Signum Growth, Struck Capital, and WestCap. The full round is expected to close later this year with an additional $20-30 million raise, with a few additional investors and several strategic partners that are in discussion.
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“We believe wholeheartedly in gaming as a vehicle to bring about mass adoption of blockchain tech and are proud to be a partner and lead this round of investment.”
The $37 million in this Series C1 will primarily be used to achieve profitability within 12 months and deliver on Mythical’s mission of providing innovation to video games through web3 infrastructure to mainstream gamers through new economy and game models. Through its chain, marketplace technology, and games, Mythical has seen an influx of more than 2.5m new users and north of $1 million in gross sales per day in the last year. The additional funding will ensure that Mythical is able to scale its games and infrastructure to a much larger mainstream audience.
“Mythical continues to be focused on producing the best games and building a dynamic marketplace bringing players and stakeholders directly into the game economies,” said John Linden, Mythical Games, CEO. “With over a million mobile downloads of NFL Rivals since launch last month and averaging over $1 million in daily transactions via the Mythical Chain, we are focused on getting the company to profitability and are seeing our vision realized and our strategy paying off. Last year – thanks to Blankos Block Party – Mythical was one of the few web3 games to reach over 1 million player accounts. By the end of 2023, we anticipate over 20 million player accounts across our entire game portfolio, driven largely by NFL Rivals and the upcoming release of Nitro Nation World Tour. It’s a testament to not only the work we’ve accomplished of late but of the continued interest in and dedication to this new frontier of game economies.”
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Today’s announcement is an extension round following Mythical’s prior capital raises of $150 million led by Andreessen Horowitz and $75 million led by Andreessen Horowitz in 2021. With this latest round of funding, Mythical maintains its unicorn valuation.
“As evidenced by their incredible growth this last year, Mythical Games is poised to become the dominant gaming platform in Web3,” said Mark Cachia, Founder and CIO of Scytale Digital. “We believe wholeheartedly in gaming as a vehicle to bring about mass adoption of blockchain tech and are proud to be a partner and lead this round of investment.
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