Described as a “next generation” game technology studio, Mythical games has just added a further $19 million in venture funding to the $16 million it raised last year. It is planning to develop games, where through blockchain technology, players can earn money from the digital ownership of game assets.
Based in Los Angeles, US, Mythical Games was named as one of a number of “Disruptive Technology Companies to Watch in 2019” by Forbes. Its focus is on building blockchain-based games and “digital ecosystems around player-owned economies.”
Mythical Games says it is “embracing a future in which gaming entertainment’s foundation is built on intimate ties between players, influencers and content creators, brands and game developers.” It’s building a platform where game developers can create their own game economies and provide ownership of in-game assets that can even be customized by content creators and brands.
The potential of blockchain and gaming
This kind of application of blockchain to gaming could eventually mean that skins, accessories, and other assets, can be created within and outside of games, ported, traded and even sponsored.
Blockchain technology allows for monetized game assets to be securely kept or transferred but also retain their authenticity and record their exact owner. It may also mean that players can earn game currencies and rewards that have real-world value and transfer it out of their game to spend it.
Mythical’s first release will see players earn money from the digital ownership of “Blankos”
Obviously Mythical Games is keeping much of its future plans under its hat however its first studio release, Blankos Block Party was announced earlier this year. The game is described as a Party MMO and Blankos characters will be truly owned by players thanks to blockchain.
The game has a marketplace where players can buy, sell, or trade their Blankos, building up a whole collection or even earning money from digital ownership if they wish. Jamie Jackson, chief creative officer at Mythical Games said at the time:
“Blankos offers a world of possibilities not only for the gamers, but also for content creators and professional artists or brands to experiment with their unique designs, skins and characteristics. They can play, collect, and even share or trade their bespoke design Blanko in the game.”
Mythical’s latest round of investment, led by Javelin Venture Partners, comes from Avon Ventures, Alumni Ventures and Hashed. It also sees new participation from its current investors Galaxy Digital and Struck Capital.
CEO John Linden, an ex-employee of Activision and who has been involved with Call of Duty and Marvel Strike Force, says:
“We are well capitalized to lead this evolution in gaming economics for PC, console, and mobile games bringing participation from players, brands, esports teams, and influencers directly into the game economics. We believe this new trend will come to dominate games.”
In fact, a number of Mythical Games executives are gaming industry veterans, all recognising the part blockchain technology could play in the future of gaming.
This week Cameron and Tyler Winklevoss bought their first startup, Nifty Gateway. The new platform allows consumers to pay for blockchain-based crypto collectibles like CryptoKitties, and from Gods Unchained games, using their credit cards.
Image courtesy of Mythical Games