Mythical Games' Funding Round Success Highlights Potential of Game-Changing Blockchain Technology in Gaming Industry

Mythical Games, known for its football-themed game NFL Rivals, has raised $37 million in the first phase of its new funding round. The funds will be used to "deliver on Mythical's promise of providing innovation to video games through web3 infrastructure," according to a press release. The company expects to raise an additional $20 to $30 million later this year. The NFL Rivals game, which uses NFTs as player packs for users to buy and trade, recently reached 1 million downloads. Digital asset manager Scytale Digital led the funding round with participation from ARK Invest, Animoca Brands, and others. With Mythical Games' new valuation worth over $1 billion, investors like Scytale Digital and others may be looking to benefit from innovation in the gaming industry through web3 infrastructure, highlighting the impact the blockchain technology may have on the future of gaming.

Growing Importance of Web3 Gaming Infrastructure for Emerging Gaming Developers like Mythical Games

Mythical Games' successful funding round, which raised $37 million, demonstrates the growing importance of web3 gaming infrastructure, which is based on blockchain technology. The company highlighted that the new funding will deliver innovation to video games through web3 infrastructure, emphasizing its long-term plan to advance its crypto-related infrastructure to deliver new gaming experiences for users. The fact that the round received significant investment from firms such as Scytale Digital, ARK Invest, and Animoca Brands indicates that the market recognizes the importance of blockchain technology in the gaming industry. Furthermore, with its existing investors, including Andreessen Horowitz, also showing continued trust in the company, Mythical Games' capabilities in developing promising gaming content are apparent.

Mythical Games' football-themed game, NFL Rivals, which incorporated NFTs, has been particularly successful, with the game reaching 1 million downloads last week. The company's future plans, including the upcoming release of Nitro Nation World Tour, demonstrates the increasing adoption of blockchain technology in the gaming industry. John Linden, the CEO of Mythical Games, said that he expected over 10 million players to be using Mythical's entire game portfolio by the end of 2023, driven primarily by NFL Rivals and Nitro Nation World Tour. This positive outlook reflects how Mythical Games plans to capture market share by developing high-quality games that users appreciate. As blockchain technology gains in popularity, new opportunities for creative gaming experiences are likely to emerge, and fortune may favor companies that make bold moves in developing infrastructure to take advantage of this trend.

Mythical Games' funding round and the success of its NFL Rivals game, which uses NFTs, demonstrate how blockchain technology is making an impact on the gaming industry. As the gaming industry continues to evolve, companies like Mythical Games are staying ahead of the curve by leveraging blockchain technology to create innovative gaming experiences. Investors also appear to be recognizing the value of this new technology, as evidenced by the participation of firms like Scytale Digital, ARK Invest, and Animoca Brands in Mythical Games' funding round.

Mythical Games' plans to expand its offerings are an indication of the company's capacity to deliver innovative gaming content using blockchain infrastructure. With the expected growth in users over the next few years, the company is likely to continue to make waves in the gaming industry. Finally, as blockchain-related infrastructure continues to mature and become more widely adopted, it will open up new avenues for creativity in the gaming industry, paving the way for a range of new gaming experiences for players. All in all, Mythical Games' recent funding round demonstrates the company's commitment to blockchain technology and the significant potential value of its web3 infrastructure objectives, putting it at the forefront of the blockchain gaming trend.