$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.

BTC

3,959 USD
0.61%

ETH

147.51 USD
1.26%

Related news

A DIY Bitcoin Lightning Node Project Just Hit Its 1.0 Milestone

A project aiming to empower people to build nodes that can send and route payments on bitcoin’s in-development lightning network has officially released version 1.0 of its code. Announced this week, RaspiBlitz has published finalized instructions for building a lightning node on a tiny hobbyist computer called a raspberry pi. Often used for custom tech […]
CoinDesk

[Guest Post] Florida Appellate Decision Expands Scope of Money Transmission Laws When Using Bitcoin

by Matthew Kohen and Justin Wales A recent Florida Third District Court of Appeal opinion may affect how individuals and businesses utilize bitcoin and other virtual currencies in the state of Florida. In Florida v. Espinoza, Case No. 3D16-1860, the State’s intermediary appellate court ruled that th... The post [Guest Post] Florida Appellate Decision Expands Scope of Money Transmission Laws When Using Bitcoin appeared first on CoinReport.
CoinReport

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.