Mythical Games has successfully secured $37 million in the initial closing of its Series C1 funding round, backed by major players like Animoca Brands and MoonPay.
In Brief
The funding round was primarily led by Scytale Digital, with contributions from ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay, and additional investors.
It is anticipated that the funding round will fully close within the year, bringing in an extra $20 to $30 million.
The capital raised will play a crucial role in helping Mythical Games achieve profitability in the upcoming 12 months while also expanding its web3 gaming offerings and infrastructure.
Mythical Games, the web3 developer behind Mythical Chain, has raised $37 million in the initial phase of its Series C1 round under the guidance of digital asset manager Scytale Digital.
Other contributors to this funding round included ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay, along with existing supporters like Andreessen Horowitz, Gaingels, Signum Growth, Struck Capital, and WestCap.
The entire funding round is set to conclude later this year, with expectations of securing an additional $20 to $30 million from a few more investors and strategic allies.
The funds from this Series C1 investment of $37 million will be earmarked for achieving profitability within a year by scaling their games and infrastructure to target a broader, mainstream audience with innovative economic and gameplay models.
In the past year, Mythical Games has welcomed over 2.5 million new users and generated more than $1 million in daily gross sales. The studio is behind hit titles such as NFL Rivals and Blankos Block Party, with the exciting Nitro Nation World Tour set to launch soon.
"Since launching NFL Rivals last month, we’ve seen over a million downloads and daily transactions exceeding $1 million through the Mythical Chain. Our main goal is to push the company towards profitability, and the strategies we implemented are clearly yielding results. Last year, thanks to Blankos Block Party, Mythical was among the few web3 games to surpass a million player accounts,\" stated John Linden, CEO of Mythical Games.
Linden also expressed confidence that by the year's end, the studio anticipates reaching over 20 million player accounts across its game lineup, largely fueled by NFL Rivals and the highly anticipated release of Nitro Nation World Tour.
Today’s announcement builds on Mythical’s earlier financing rounds of $150 million and $75 million, both of which were supported by Andreessen Horowitz in 2021. With this latest capital influx, Mythical maintains its status as a unicorn in the industry.
Read more:
- NFL teams and Mythical Games have come together to introduce the NFT-driven game 'NFL Rivals.'
- With 'NFL Rivals,' Mythical Games is pioneering the integration of blockchain technology into the mobile gaming space.
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