Mythical Games Secures $37M in Funding
Web3 game studio, Mythical Games, has successfully raised $37 million in a Series C1 funding round, according to a report from Decrypt.
The Deets
- Leading the extension round: Scytale Digital
- New investors: ARK Invest, Animoca Brands, MoonPay, Proof, Stanford Athletics
- Previous participants: Andreesen Horowitz, WestCap, Struck Capital, Signum Growth, Gaingels
- Further funding expected in 2023, according to CEO John Linden
The Bulk
Mythical Games, the creator of popular titles such as NFL Rivals and Blankos Block Party, announced the funding success today. The funds came from an array of sources, including new investors ARK Invest, Animoca Brands, MoonPay, Proof, and Stanford Athletics. These join previous contributors Andreesen Horowitz, WestCap, Struck Capital, Signum Growth, and Gaingels.
The round was led by Scytale Digital and aims to secure between $20-30 million more within this year. The funding will help support their continued exploration and innovation within web3. CEO John Linden also indicated that some strategic investors planned for the round are still in negotiations, suggesting the potential for even further funding beyond initial expectations.
🎤 Founder Feedback:
Our focus is getting to profitability, and we believe this round is what does it. We think within 12 months, we can be profitable off of what we're doing.John Linden, CEO of Mythical Games to Decrypt
📊 By the Numbers
Mythical Games previously raised $150 million at a $1.25 billion valuation in the fall of 2021. Its signature game, NFL Rivals, just breached one million total downloads.
🔜 What's Next?
Mythical Games intends to continue developing their successful game, NFL Rivals, especially with the new season ahead later this summer. The company also plans to release Nitro Nation World Tour, an NFT-driven mobile drag racing game, and the migration of the Mythical Chain to Polkadot.
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