Mythical Games, the Web3 game studio known for titles such as NFL Rivals and Blankos Block Party, recently announced a successful $37 million Series C1 funding round. The round, led by Scytale Digital, saw participation from new investors like ARK Invest, Animoca Brands, MoonPay, Proof, and Stanford Athletics, as well as previous investors, Andresseen Horowitz, WestCap, Struck Capital, Signum Growth, and Gaingels.
Mythical Games CEO and co-founder John Linden has disclosed that strategic investors are still in negotiations and an additional funding close is expected later in 2023. This move aligns with the company’s aim to reach profitability in the near future.
What makes Mythical Games stand out from other gaming companies is its focus on NFT-based games. NFL Rivals, their officially-licensed mobile game, has been downloaded over a million times across iOS and Android platforms. The game supports NFT-based pro players that can be traded, but Linden emphasizes that this feature is optional and not contained within the app itself.
The decision to make NFTs optional in NFL Rivals caters to a wide audience, many of whom might not be familiar with the Web3 ecosystem. Linden commented on this decision, saying, “We wanted to make sure we’re hitting an audience that, frankly, a lot of them don’t know Web3. They don’t know what a private key is.”
As the company plans to introduce more Web3 elements into the gaming experience, it also aims to educate players and encourage them to explore the benefits of ownable, tradable assets. This approach is evident in their bids feature, which allows NFT traders to offer to purchase player cards, potentially piquing the interest of other players.
While Mythical’s vision seems promising, challenges still lie ahead, mainly in their negotiations with Apple and Google. The company hopes to bring the NFT marketplace directly into the NFL Rivals app, but this poses difficulties given both tech giants’ current stance on NFTs and the sizeable fees they charge on in-app purchases.
Despite these challenges, Linden remains optimistic about their progress in bringing the marketplace into the game, citing a “more receptive attitude” from both app stores. With the upcoming migration of the Mythical Chain to Polkadot, the release of the NFT-driven mobile drag racing game Nitro Nation World Tour, and a potential Series D round, the future certainly seems bright for Mythical Games and its expansion into the world of Web3 gaming.
Source: Decrypt
