Mythical Games Raises $16 Million USD From Galaxy Digital, Javelin Venture Partners And Others To Create “New Era Of Player-Owned Games”
A games company called Mythical Games has recently made a Series A investment round in which the company was able to get over $16 million USD from popular venture capital companies like Galaxy Digital’s EOS VC Fund, Divergence Digital Currency and Javelin Venture Partners. Other investors included Fenbushi Capital, OKCoin and DDC.
The studio, which is led by game developers that hail from well-known companies like Activision Blizzard and from Yahoo, intends to use the blockchain technology to revolutionize the AAA gaming industry.
Mythical Games was formed early in 2019 and has emerged receiving plenty of capital. The company plans to create an economy that is driven around the player and that will be boosted by the sale of blockchain-based items and assets, which would include content created by players and stored in the blockchain.
John Linden, the CEO of the studio, has already worked at Activision subsidiary Beachhead Studios which helped with one of the latest Call of Duty games, is working together with CCO Jamie Jackson, which worked in FreeStyle Games and Rudy Koch, senior producer, which worked at Blizzard. The studio will be based in London.
The Technology To Change The Game Industry
The main idea is to use the blockchain to develop a technology that can be used in many games, not to develop a single game that will use it. This, the developers believe, can be potentially very interesting for many different games because the players will really own the assets and this can be used in card games, race games, etc.
Mythical Games’ main problem is that the industry is still highly skeptical of the blockchain. Most of the gaming community sees it as only another way to set up Digital Rights Management (DRM) platforms, which are widely unliked in the industry.
The studio plans to fully support online and multiplayer games, in which the technology can be used better to generate revenue over time while giving players full control of their assets.
All of the investors are very hyped by the future of the company. Michael Novogratz, the CEO of Galaxy Digital, has affirmed that gaming and the interaction of the players with virtual goods and economies will play a huge role in how the masses will discover the true potential of the blockchain.
Investors from Javelin have also affirmed that they believe that this technology will dominate games in the future and that the investment of $16 million USD will help the companies in moving forward their ability to create really immersive worlds that will make the players get to know how the blockchain technology works and to start a new era of gaming in the mainstream community.