A next-generation game technology studio, Mythical Games has recently secured fundings from five different venture capital firms. The company raised a total sum of $16 million.The decentralized online gaming company made this known in a recent press release.
Mythical Games is a gaming technology studio employing the use of blockchain technology to build games where players can own the assets they develop or acquire in the game.
The company has on several occasion made it known that its operation is different from centralized sever backed games operating in the same premises. In a recent blog post, the company made a comparison between itself and games like World of Warcraft, Ultima Online, or Runescape.
The blog post stated that:
“These games are at the whim of the company to stay in business and keep servers online. A decentralized game built on the blockchain can keep in operation, with assets retaining value, for as long as users desire them to. Not to mention how much easier it is to transfer assets when blockchain-connected accounts are involved.”
Not Game Yet
It is, however, important to note that this company has not officially launched any game yet. Even with this, it has been able to pull investment from top venture capital firms, such as OKCoin and Galaxy Digital’s EOS VC fund.
Regarding what the company will use the funding for, this was made known in a recent press release.
The press release states that:
“The funding will support the company’s first-to-market plans to develop and co-produce a slate of high-quality game titles(on mobile / PC / console) built around new player economies and user-generated content. The investment was led by Galaxy Digital’s EOS VC Fund, with significant participation from Javelin Venture Partners as well as DDC, Fenbushi, Noris, and OkCoin joining the round.”
According to a recent report Galaxy, Digital’s EOS fund is largely credited for the total $16 million funding round, going by this, it is clear that Mythical’s products will be built using the EOS, dApp-focused blockchain.