When the entire deal closes in the upcoming months, the company anticipates raising an additional $20–$30 million.
Mythical Games, a publisher of video games, has acquired $37 million in Series C1 capital, allowing the business to establish a new market and pursue income-generating plans. With this funding, Mythical Games keeps its unicorn status and $1 billion+ valuation.
The money will mostly be used to assist these initiatives, according to John Linden, co-founder and CEO of Mythical Games, whose company’s focus is on maximizing its business for profitability by the end of the year.
In addition to Stanford Athletics, ARK Invest, Animoca Brands, MoonPay, PROOF VC, and prior backers Andresseen Horowitz, WestCap, Gaingels, Signum Growth, and Struck Capital, Scytale Digital led the fundraising round. In the upcoming months, a further $20–$30 million is anticipated to be raised for the entire round.
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Nitro National World Tour, a new game by Mythical Games, will be available in a few months. Since February, the game has been allowing pre-sales of nonfungible tokens (NFTs). The money will also be used to create an in-game store for NFL Rivals, the company’s second game, which recently crossed one million downloads.
According to John Linden, Nitro Nation World Tour will be their third game overall; more titles that have not yet been revealed are still in production. This suggests a backlog of impending releases and a growth in Mythical Games’ product line.
Recently, Mythical Games announced that its Mythical Chain would be moving from the Ethereum blockchain to the Polkadot ecosystem. Concerns about the Ethereum network’s sluggish transaction times and high transaction charges led to the decision to abandon it.
The transition to the Polkadot ecosystem shows that Mythical Games is looking into alternate blockchain alternatives to address Ethereum’s scalability and cost challenges. The effectiveness and user experience of their games and the related NFT market may be improved by this move.
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