Mythical Games has raised $19 million for its game studio, which will create blockchain-based games that players can earn with digital ownership.
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Los Angeles-based Mythical Games is using the blockchain's distributed digital ledger technology to build games in which players can be verified as game owners. The company claims that these are digital ecosystems built around the economies of all participants. The company is developing its first game.
Javelin Venture Partners led the round of financing. Other new investors include Avon Ventures, Alumni Ventures and Hashed. Existing participants who are also involved in this round of financing include Galaxy EOS VC Fund, which is owned by Galaxy Digital, and Struck Capital.
John Linden, CEO of Mythical Games, said in a statement:
“We are very excited about the support of new and existing investors, teams and board members. We have enough capital to lead the economic development of PCs, consoles and mobile games, thus bringing players, brands, e-sports teams And the influence of the influencers directly into the game economy. We believe that this new trend will dominate the game and can't wait to bring the Blankos Block Party to market to showcase this new economic situation and to be incredible with the rest of the world. Game studios share our platform."
Mythical Games raised $16 million in two rounds of financing last year. So far, the total financing has reached $35 million. Mythical said that this will usher in a future, the foundation of game entertainment will be based on the close connection between players, net red and content creators, brands and game developers. The team provides game developers with a platform to create a player-owned economy and provides new tools to provide ownership of in-game assets for content creators and brands to build and customize.
Alex Gurevich of Javelin Ventures said in a statement,
“Since investing in Mythical's A round last year, we were impressed with the team's execution on the Blancos Block Party and Mythical Platform. We are very excited about the support of new and existing investors, teams and board members. Blancos gameplay is fun, rich and engaging. It shows that the player's economy can have a wealth of wealth in the game, we can't wait for the player to try it. See the broader industry and the big industry in the blockchain ecosystem. It’s great that our partners have adopted our approach. We are pleased to lead this round of financing for Mythical Games to support its public offering.”
An important member of Mythical Games
In addition to the latest investments, Mythical has also appointed four key employees, Jeff Poffenbarger, Pete Hawley, Nicole Yang and Greg Deutsch, to strengthen their leadership team.
Jeff Poffenbarger is the chief operating officer and oversees the company's day-to-day operations. Most recently, he was the studio director for Oculus VR, a senior executive producer at Activision and Activision Blizzard, and has extensive experience publishing several games for Skylanders, Tony Hawk and Marvel franchises.
Pete Hawley is the Chief Product Officer, who will run the Mythical platform for game and product development in the studio and other game studios and publishers. He has a broad background in the gaming industry and served as the last CEO before the fall of Telltale Games. He also served as Senior Vice President of Zynga Games, Chief Product Officer of Red Robot Labs, Vice President of Product Development at Electronic Arts, and Executive Producer of Burnout Paradise, led by Lionhead Studios and Criterion.
Nicole Yang is the Vice President of Marketing and is responsible for leading the market strategy and audience development. She is currently Vice President of Marketing at Telltale Games and Vice President of Product Marketing at Zynga, an early employee of several startups acquired by Activision, Perion Network and Machine Zone. She is a consultant to Humen AI.
Greg Deutsch joined Mythical as a general counsel and served as a general counsel for Activision for many years.
To complete the investment and hiring efforts, Mythical said it also strengthened the board by adding Alex Gurevich (Javelin Investment Partner) and independent board member Rehito Hatoyama (Hello Kitty, Sanrio's Global Chief Operating Officer), who joined the existing Board members Galaxy Digital's Sam Englebardt, John Linden and Jamie Jackson.
The addition of Rehito is significant because the studio's expansion focuses on developing business to engage global brand partners and influencers in consumer goods, sports, music and technology.
The company has more than 30 full-time employees and offices in Los Angeles and Seattle, and Mythical Games was founded in 2018 by Linden, Chief Creative Officer Jamie Jackson and Rudy Koch, Vice President of Marketing Services. In his previous executive duties as Activision Blizzard, they led the world-class development team of game brands, including Call of Duty, World of Warcraft, Guitar Hero Live, Skylanders and more.