$16 Million Total Investments for Blockchain Gaming Startup

$16 Million Total Investments for Blockchain Gaming Startup

Mythical Games acquires $16 million for Series A funding round. The startup will use the acquired funds to produce games that can be modified by players, brands, and developers. The generated content will be purchasable with in-game currencies bought with real-life money

Mythical Games plans to capitalize on the popularity of games such as Fortnite. It targets the development of games for the mobile market, the console, and PC.

The Edge of Blockchain in Gaming

Though games have rules which are prohibit trading game items for money, various online games have unofficial markets where players can buy or swap rare items using the game’s currency or real money.

Games made with the blockchain makes it possible to track trades of in-game items. With blockchain, items that go from one player to another can be traced using proof-of-acquisition or proof-of-ownership, thus preventing the proliferation of illegitimately obtained items.

What is Mythical Games

Mythical Games, based in Sherman Oaks, is a game technology studio integrating blockchain technology with gaming. The startup desires to create an ecosystem based on digital ownership, which they believe will benefit players, developers, and content creators.

CryptoKitties and a $15 Million Investment

Another recent news on gaming and investments: On 5 November, the creator of CryptoKitties, Dapper Labs, secured an additional $15 million investment for the funding of its expansion and development of new blockchain-based games and apps. Andreessen Horowitz, Google Ventures, and SamsungNEXT are among the investors.

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