Mythical Games, a Seattle-based web3 gaming studio, has secured $37 million in funding for the first part of a Series C extension round. Led by digital asset manager Scytale Digital, the round was joined by prominent investors such as ARK Invest, Andreessen Horowitz, and Animoca Brands. This follows a $150 million Series C round in November 2021, which valued the company at $1.25 billion. The extension round is expected to raise an additional $20 million to $30 million.
Our goal for 2023 is to further optimize our business and achieve profitability, said co-founder and CEO John Linden. These funds will primarily be used to achieve that through platform updates, infrastructure developments and enhancements, and the development and subsequent launch of additional games in our pipeline.
The company has raised a total of $200 million in 2021, including $75 million in June and the Series C. Other backers included PROOF VC, Stanford Athletics, MoonPay, WestCap, Gaingels, Signum Growth, and Struck Capital. NFL Rivals, one of Mythical Games’ popular blockchain-based games, topped a million downloads last week, two months after its launch.
In the coming months, Mythical Games will launch Nitro Nation World Tour, a racing game for mobile and desktop featuring car brands like Aston Martin, Jaguar, Pagani, and Lotus. Additionally, feature updates to the Mythical Marketplace, including a new in-game marketplace for NFL Rivals, are in development.