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.
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.