According to The Block, Web3 game development company Mythical Games completed a $37 million Series C1 round of financing, led by Scytale Digital, with new investors ARK Invest, Animoca Brands, PROOF, Stanford Athletics, MoonPay, and existing investors a16z, WestCap, Gaingels, Signum Growth and Struck Capital participated in the investment. CEO John Linden said the terms of the financing are similar to its 2021 Series C round. In addition to expanding the size and user reach of the game, Mythical Games also intends to use the funds to achieve profitability.
In addition, Mythical Games plans to close this round of financing with an additional $20 million to $30 million later this year. The company raised $150 million in 2021 and another $50 million in January of this year, when the company's valuation reached $1.25 billion.
It is reported that Mythical Games’ most popular games include NFL Rivals and Blankos Block Party, both of which will be launched on the Epic games Store in September 2022. Last year, the company attracted more than 2.5 million new users and generated $1 million in sales every day.
