Mythical Games Secures $37M in First Close of Series C1 Round with Backing from Animoca Brands, MoonPay
The round was led by digital asset manager Scytale Digital, with participation from ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay and others.
The full round is expected to close later this year with an additional $20-30 million raise.
The funds will be used to achieve profitability within 12 months as well as scale its web3 games and infrastructure.
Mythical Games, the web3 gaming studio behind the Mythical Chain, has raised $37M in the first close of its Series C1 round led by digital asset manager Scytale Digital.
Additional participants in the round included ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay, as well as existing investors Andreessen Horowitz, Gaingels, Signum Growth, Struck Capital, and WestCap.
The full round is expected to close later this year with an additional $20-30 million raised with a few additional investors and strategic partners.
The $37 million funding in this Series C1 will be used to turn a profit within 12 months by scaling its games and infrastructure to a larger mainstream audience via new economy and game models.
In the last year, Mythical Games has gained more than 2.5 million new users and north of $1 million in gross sales per day. The game development studio is responsible for creating popular gaming titles such NFL Rivals and Blankos Block Party, with the upcoming Nitro Nation World Tour to be released soon.
“With over a million mobile downloads of NFL Rivals since launch last month and averaging over $1 million in daily transactions via the Mythical Chain, we are focused on getting the company to profitability and are seeing our vision realized and our strategy paying off. Last year – thanks to Blankos Block Party – Mythical was one of the few web3 games to reach over 1 million player accounts,” said John Linden, Mythical Games CEO, in a statement.
Linden added that the gaming studio expects over 20 million player accounts across its entire game portfolio by the end of this year, driven largely by NFL Rivals and the upcoming release of Nitro Nation World Tour.
Today’s announcement is an extension of Mythical’s prior capital raises of $150 million and $75 million, both led by Andreessen Horowitz in 2021. With this latest round of funding, Mythical maintains its unicorn valuation.
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