Mythical Games Raises $50M, Releases NFT- Gaming Marketplace

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Myth­i­cal Games, a web3 gam­ing giant, may raise $50 mil­lion from investors to expand in the decen­tral­ized gam­ing space. This fol­lows the company’s announce­ment of ini­tia­tives to bring web3 to the aver­age gamer. CEO John Lin­den report­ed­ly trav­eled to Dubai to seek investors, and the com­pa­ny is con­sid­er­ing rais­ing $50 mil­lion to expand its busi­ness.

Myth­i­cal Games last raised $150 mil­lion in Novem­ber 2021 at a val­u­a­tion of $1.25 bil­lion, with investors includ­ing Andreessen Horowitz join­ing the round. Fur­ther­more, the com­pa­ny announced the launch of a new mar­ket­place, Myth­i­cal Mar­ket­place 2.0, which aims to make decen­tral­ized gam­ing more acces­si­ble to gamers

Myth­i­cal secret­ly acquired DMar­ket and has been incor­po­rat­ing its tech­nol­o­gy into its mar­ket­place plat­form for sev­er­al months. The upgrade has already result­ed in increased month­ly trans­ac­tions and in the six weeks since its launch, the new mar­ket­place has processed over 2 mil­lion transactions.

Introducing Web3 to players

Myth­i­cal Games 2.0 has launched a new ver­sion of its mar­ket­place, which is designed to improve the play­er expe­ri­ence and set the stan­dard for the future of gam­ing. Accord­ing to John Lin­den, the CEO of Myth­i­cal Games, the com­pa­ny aims to pro­vide a seam­less and inte­grat­ed expe­ri­ence for gamers, which he claims has been lack­ing in the indus­try until now.

To achieve this, Myth­i­cal Games has acquired DMar­ket, an advanced trad­ing plat­form for dig­i­tal assets. The Ukraine-based com­pa­ny will become part of Myth­i­cal East, which is head­quar­tered in Lis­bon, Por­tu­gal. Both com­pa­nies share a vision of how the gam­ing indus­try will evolve and how they can con­tribute to mak­ing it more fun for gamers world­wide, said Vlad Panchenko, the CEO of DMarket.

Game slate for Mythical

As the blockchain gam­ing indus­try con­tin­ues to grow and more expe­ri­enced video game devel­op­ers enter the space, Myth­i­cal Games has estab­lished a strong pres­ence in the mar­ket through its suc­cess­ful game launch­es and strate­gic part­ner­ships with well-known brands.

In Sep­tem­ber 2020, Myth­i­cal Games launched Blankos Block Par­ty, a game that has already attract­ed one mil­lion signups and is avail­able on the Epic Game Store. The com­pa­ny has also formed a part­ner­ship with the pop­u­lar Nation­al Foot­ball League to cre­ate a sports game called NFL Rivals, which is near­ing its wide release. Accord­ing to Myth­i­cal Games’ CEO, peo­ple are already play­ing the game and it will be enter­ing into soft launch next month, with a full launch planned for a few months later.

These devel­op­ments demon­strate Myth­i­cal Games’ abil­i­ty to not only cre­ate suc­cess­ful blockchain-enabled games but also to estab­lish part­ner­ships that can help raise the company’s pro­file in the indus­try. With its track record of suc­cess, Myth­i­cal Games is well-posi­tioned to con­tin­ue mak­ing a sig­nif­i­cant impact in the blockchain gam­ing market.

Final Thoughts 

The expan­sion plans being made dur­ing the cur­rent tech and cryp­to win­ter may be a pos­i­tive indi­ca­tion for the decen­tral­ized gam­ing indus­try. This is because, as the mar­ket con­di­tions become more chal­leng­ing, com­pa­nies that are still able to expand and grow are like­ly to be well-posi­tioned for suc­cess in the long term.

Fur­ther­more, it is pos­si­ble that gam­ing could be one of the key areas where cryp­tocur­ren­cy and blockchain tech­nol­o­gy gain mass adop­tion. This is because many gamers are already famil­iar with vir­tu­al cur­ren­cies and the decen­tral­ized nature of gam­ing plat­forms may align well with the decen­tral­ized nature of cryp­to. As a result, the decen­tral­ized gam­ing indus­try could become a key dri­ver of cryp­to adop­tion in the mainstream.

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