Game publisher Mythical Games has secured $37 million in Series C1 funding, allowing it to maintain its unicorn status with a valuation exceeding $1 billion. The funds will be utilized to support the company's plans to launch into new markets and pursue various revenue ue-generating initiatives. Mythical Games aims to optimize its business for profitability by the end of the year, with the majority of the funding allocated towards achieving this objective. The funding round was led by Scytale Digital, and notable participants included ARK Invest, Animoca Brands, Mo onPay, and Stanley Athletics, among others. Mythical Games anticipates raising an additional $20 million to $30 million in the coming months, with the complete funding round expected to conclude at that time.
Mythical Games is preparing to release its new game, Nitro National World Tour, in the coming months. The company has already commenced a pre-sale of non-fungible tokens (NFTs) since February. Furthermore, the funding will enable the development of an in-game marketplace for their existing game, NFL Rivals, which has garnered over 1 million downloads. Mythical Games has several other games in development, which have yet to be announced. The recent announcement also highlighted the migration of Mythical Chain from the Ethereum blockchain to the Polkadot ecosystem. The decision was driven by Ethereum's slow transaction speed and high transaction costs, prompting the company to seek a blockchain partner that can scale with their growing platform.
Mythical Games has achieved significant success in the NFT market, boasting $29 million in sales over the past 30 days. This latest funding round serves as an extension of previous funding received in 2021. totaling $225 million across two rounds. With the new funding secured, Mythical Games is well-positioned to pursue its goals and expand its presence in the gaming industry.
