NFT gaming provider, Mythical Games, has announced that it has recently completed its Series B funding round, where it raised $ 75m which was led by Westcap.
According to a press release shared with Coinfomania today, the $ 75m Series B funding round raised from Mystical Games, which was led by WestCap, will be used to accelerate the firm’s idea of “playable NFTs,” using NFT technology to help players identify and truly own game characters.
The funding will also be useful in fostering the growth and expansion of its Blankos Block Party, an open-world multiplayer game.
As per the announcement, the game will be expanded to other platforms as the firm looks forward to launching new projects later this year and in 2022.
With the recently concluded investment funding round, the Los Angeles-based gaming provider has raised its cumulative investment to $120 million.
Participants in the just-concluded Serie B funding round include both new and existing investors such as Galaxy Digital, 01 Advisors, Gary Vaynerchuk’s VaynerFund, Javelin Venture Partners, Alumni Ventures, and Struck Capital.
Funding to Accelerate Mythical Gaming Vision
John Linden, CEO of Mythical Games, said the firm has been one of the NFT pioneers that has been trying to deploy the tech to the gaming industry, based on its widespread adoption since the beginning of the year.
Linden noted that since the company was established three years ago, it has always been its vision to foster the mass adoption of in-game ownership of gaming collections via various projects like Blankos Block Party, and NFTs is making this dream a reality, adding:
“This new capital will allow us to continue leading the industry into a new play-to-earn model where various stakeholders like players, artists, content creators, and brands are now directly influencing the game economics.”
While the Blankos Block Party is still in Beta, players already hold more than 100,000 NFTs in the form of in-game collections, with Mythical confident that the assets’ value will spike over time as the game’s popularity continues to grow.
The NFT space has blown up in recent months. Coinfomania reported a few months ago that NFT sales made a huge jump from $93 million in Q4 2020 to over $2 billion in Q1 2021.
