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  • Writer's pictureJamal Saafir

Mythical Games Is Not Playing Games When It Comes To Investors

As reported by Coindesk, Mythical Games, a Web3 gaming studio, recently secured $38 million in funding from some big names in the world of investing. The firms taking interest in the Web3 game developer are Cathie Wood’s Ark Invest, Animoca Brands, and Andreessen Horowitz (a16z). The funding was led by digital asset manager Scytale Digital.

The extension follows a $150 million Series C round in November, 2021, which was led by a16z and valued the company at $1.25 billion. The firm plans to close the extension round later this year in anticipation of raising $20 million to $30 million in additional capital.

Mythical Games is known for its Mythical Chain blockchain and gaming ecosystem, Mythical Marketplace and popular blockchain-based games NFL Rivals and Blankos Block Party. NFL Rivals surpassed one million downloads last week, two months after its release.

"Our goal for 2023 is to further optimize our business and achieve profitability," co-founder and CEO John Linden told CoinDesk in an email. "These funds will primarily be used to achieve that through platform updates, infrastructure developments and enhancements, and the development and subsequent launch of additional games in our pipeline.”

Mythical Games raised a total of $200 million in 2021, including $75 million in June as well as the Series C. Other backers this time around included PROOF VC, Stanford Athletics, MoonPay, WestCap, Gaingels, Signum Growth, and Struck Capital.

Last year, Mythical Games announced job cuts and also lost three of its top executives in early November. Those three execs went on to found Fenix Games, which resulted in Mythical Games suing them in December for secretly raising $150 million for their new firm.

None of these events have slowed Mythical Games’ stride, as they are set to launch racing game Nitro Nation World Tour in July, updating the Mythical Marketplace, and developing marketplace updates for NFL Rivals as well.

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