Mythical Games raises $75M to speed up NFT gaming

Los Angeles-based NFT video games developer Legendary Video games introduced a $75 million Sequence B financing with new and current buyers. The corporate plans to make use of the fund to popularize possession in video games by playable nonfungible tokens (NFTs).

The funding spherical was led by WestCap Group. Different contributors embody 01 Advisors, Gary Vaynerchuk’s VaynerFund, Galaxy Digital, Javelin Enterprise Companions, Alumni Ventures and Struck Capital. The sport developer studio raised a complete of $120 million to date.

Legendary Video games is engaged on blockchain-based video games, particularly video games that use playable NFTs. The corporate is led by its CEO John Linden, who was the president of Seismic Video games till the studio was acquired by the gaming large Niantic.

“Through its Legendary Financial Engine and Legendary Market, the group is offering a platform for sport builders to create their very own player-owned economies,” the announcement reads.

Linden famous the meteoric rise of NFTs and blockchain in 2021, saying, “This new capital will enable us to proceed main the business into a brand new play-to-earn mannequin the place numerous stakeholders like gamers, artists, content material creators, and types at the moment are straight influencing the sport economics.”

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The principle challenge of the studio is Blankos Block Get together, an open-world multiplayer sport. The newest funding will allow the group to broaden into different gaming platforms and develop new initiatives.

Blankos Block Get together provides NFT characters that gamers can earn whereas enjoying. NFTs are verifiably distinctive representations of digital and bodily items that may be utilized to a number of use instances.

Sport developer studios lately began to make use of them as online game characters. Every NFT usually differs in design and worth. Legendary’s newly launched market permits gamers to purchase or promote their characters. The sport continues to be within the beta part.