Mythical Games have raised $150 million from a funding round that features numerous top names in the financial industry. The funding round was led by global venture capital firm Andreessen Horowitz (a16z), including FTX, Binance Labs, Michael Novogratz, Michael Jordan.
Mythical Games Raises $150 Million in a New Round of Funding.
Mythical Games has raised $150 million in a fundraising round that includes a slew of finance sector heavyweights. FTX, Binance Labs, Michael Novogratz, Michael Jordan, and many other notable institutions and people participated in the funding round, which was led by global venture capital company Andreessen Horowitz (a16z). Following the fundraising round, Mythical Games now has a market value of $1.25 billion.
The substantial sum will be utilized to further develop the platform’s open-world multiplayer game, Blakos Block Party, as well as promote future Non-fungible Token (NFT) titles. Mythical Games’ total fundraising now stands at $270 million, just four months after raising $75 million in early June. Furthermore, in 2021, the NFT game platform has raised a total of $225 million.
The investment round was unplanned, according to John Linden, CEO of Mythical Games, in an interview with GamesBeat. He did say, though, that the money will go a long way toward expanding the platform’s ecosystem.
“We weren’t planning on raising and Andreessen came to us and put together a round for us, which was great,” John Linden told GamesBeat. “We’re very honored to be a portfolio company of Andressen Horowitz.”
What Mythical Games is all about
Mythical Games is a well-known name in gaming technology that uses blockchain technology in conjunction with NFT GameFi to create a unique gaming ecosystem. Through unique Play-to-Earn gaming economies, the platform ensures that players, artists, marketers, game developers, and creators have independence and ownership.
As a result, the financing will go a long way toward drawing additional developers and players, eventually leading to the creation of a go-to platform with the best blockchain-based NFT games.
The Next Big NFT GameFi Platform?
Bill Chin, the head of Binance Labs Fund, was upbeat about Mythical Games’ prospects in the NFT GameFi area. This is due to the platform’s ability to attract a group of skilled and experienced professionals who are dedicated to developing a game economy for large communities.
“We believe Mythical may prove to be one of the most disruptive players in the crypto gaming and NFT ecosystem,” Bill Chin said in an official press statement on November 5th. “Their team, led by experienced gaming industry executives, has impressed us with their vision and unique capability to build a market-leading platform. We look forward to seeing their innovative play-to-earn concepts and playable NFTs shake up the gaming industry and forever change how gamers interact with their favorite properties.”
The Mythical Game protocol, which is based on NFTs and blockchain technology, will open the door to any user. Users will eventually be able to earn money by playing the greatest NFT games on the platform. Arianna Simpson, a16z’s general partner, also remarked about the platform’s development in a news release from Mythical Games.
“Mythical Games played a formative role in the development of play-to-earn concepts, and has clearly established itself as a top player among gaming technology studios, attracting mainstream players with its distinctive design and quality game,” Arianna disclosed.
