Mythical Games raises $37M for in-game marketplace in Series C round

Game steadfast Mythical Games has secured $37 cardinal successful Series C1 funding, with plans to motorboat a caller marketplace and prosecute different revenue-generating initiatives. With this funding, Mythical volition proceed to clasp the unicorn presumption with a valuation of implicit $1 billion.

“Our absorption is optimizing our concern to get to profitability by year's end, and the funds volition chiefly beryllium utilized successful our efforts to execute that," told John Linden, co-founder and CEO of Mythical Games speaking to Cointelegraph.

The circular was led by Scytale Digital with ARK Invest, Animoca Brands, MoonPay, PROOF VC, and Stanford Athletics, alongside erstwhile investors Andresseen Horowitz, WestCap, Gaingels, Signum Growth, and Struck Capital. Mythical expects an further $20-$30 cardinal rise successful the coming months, erstwhile the afloat circular is expected to close.

The steadfast plans to merchandise successful a fewer months its caller crippled Nitro National World Tour, for which pre-sales of nonfungible tokens (NFTs) person been ongoing since February. Additionally, the funds volition beryllium utilized to make an in-game marketplace for its different rubric NFL Rivals, which precocious deed implicit 1 cardinal downloads.

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"Nitro Nation World Tour volition beryllium the 3rd crippled successful our portfolio and is slated to beryllium launched wrong the adjacent fewer months. We person aggregate games inactive successful improvement that we person yet to announce," commented Linden.

Mythical precocious announced the migration of the Mythical Chain from the Ethereum blockchain to the Polkadot ecosystem, saying Ethereum's dilatory transaction speeds and precocious transaction costs led to the decision. "What this determination truly comes down to is that Ethereum simply is nary longer optimal oregon ideal, fixed the increasing needs of our platform. [...] We needed a blockchain spouse that is prepared to standard with us," explained Mythical CEO.

With $29 cardinal in sales in the past 30 days, Mythical is 1 of the apical blockchains by NFT income volume. The caller money is an hold of anterior superior raises, including $225 million secured successful 2 rounds successful 2021.

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