NFT startup Mythical Games raises $75 million, led by WestCap

The new funding round brings Mythical’s total funding to $120 million.

Mythical Games, formed by veterans of Activision, EA and Oculus, has secured funding to bring in significant new money to build the game Blankos Block Party.

NFT startup Mythical Games raises  million, led by WestCap

NFT startup Mythical Games is the developer of the game Blankos Block Party. Image from: Mythical Games

Key points.

Blankos Block Party developer Mythical Games has raised $75 million for the NFT game and technology platform

The studio’s technology allows other developers to implement blockchain-based “player-owned economies” in their games

Mythical Games, a crypto gaming startup focused on collectible non-homogeneous tokens (NFTs), was founded by former Activision, Oculus and EA executives, Decrypt reported on June 9. Today, it announced that it has raised $75 million in Series B funding to continue developing its NFT game and platform.

The round was led by growth equity firm WestCap, with participation from investors Gary Vaynerchuk’s Vayner Fund and 01Advisors, as well as legacy investors Galaxy Digital, Alumni Ventures, Javelin Venture Partners, and Stuck Capital. The new round brings Mythical’s total funding to $120 million.

Most recently, Gary Vaynerchuk has invested in several NFT projects, such as Candy, a digital collectibles marketplace in partnership with Major League Baseball, following the launch of Vaynerchuk’s hand-painted “VeeFriends” line of NFT collectibles, and in the spring of this year Vaynerchuk previously launched a hand-painted “VeeFriends” NFT collectibles line and this spring invested in Sorare, an NFT fantasy soccer game.

NFT stands for the deed of ownership of digital objects. Earlier this year, NFT became a huge hit, thanks in large part to the NBA Top Shot and its collectible video collection, as well as celebrities, athletes, brands and artists selling digital artwork through various platforms.

Mythical is the developer of the game Blankos Block Party. The game is blockchain-based and collectible-centric, allowing players to create, entertain and interact in a shared environment. Inspired by the look and design of vinyl toys, Blankos Block Party also allows players to design their own worlds and playable games, similar to the free smash Roblox. currently, the game is in public beta.

In addition to games, Mythical Games has built a platform for other game developers to add encryption and NFT elements, allowing users to own and resell exclusive digital items. the Mythical Marketplace marketplace and Mythical Economic Engine are the tools that enable these features.

Rudy Koch, co-founder and senior vice president of business development at Mythical, told Decrypt in 2019 that

Any game should follow a player-owned economy. We want to provide a platform of services that simplify the blockchain and help developers design game economies that players and content creators can participate in.
In blockchain-powered video games, NFTs represent rare, collectible items that can actually be used, such as playing cards, reproducible creatures, spaceships, weapons, or land for building. In Blankos Block Party, NFTs can be sold in the marketplace for uniquely designed Blankos characters, a range of accessories and customizations (including clothing, hair, jewelry), and more.

According to the press release, Blankos Block Party users hold over 100,000 in-game NFTs. however, the company has not yet released data regarding the number of transactions, active users or secondary marketplace sales. decrypt has requested specific data from Mythical Games representatives in this regard.

On June 14, Mythical will reveal details about the game live during the annual Electronic Entertainment Expo. The livestream will also feature Twitch Drops, where viewers can get free NFTs of the game. in addition, Blankos Block Party will expand to other gaming platforms beyond Windows 10, and Mythical will launch other projects this year and in 2022.

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