Mythical Games has just announced a $75 million partnership to produce NFT-financed video games. NFTs, or “non-fungible tokens,” are a form of cryptocurrency tokens or other items that can be used to make in-game trades or purchases in a specific title.
These tokens will be the lifeblood of Mythical Games’ new creative output, as revealed in a press announcement earlier today. WestCap, a growth equity firm that has lasted up to 20 years at this point, is among the investors who have just agreed to grant $75 million to Mythical Games to produce several NFT-based titles in 2021 and 2022, as well as provide a platform for other developers to create their own player-owned economies. “Mythical’s world-class team has transformed the way creators distribute and monetize their art,” WestCap Managing Partner Laurence Tosi stated during today’s announcement. “Mythical’s creative use of blockchain technology has empowered brands and studios to develop interactive content and engage with fans like never before.”
Consisting of former employees from big-name companies like Activision, Oculus, EA, and Zynga, Mythical Games was recently named Inc.’s 2021 Best Places to Work and has been listed among Fast Company’s World Changing Ideas 2021 for its work on 2020’s Blankos Block Party, which uses vinyl-style characters as a sort of virtual collectible. Mythical Games is set to announce their next project at Monday’s E3 event, as well as a livestream on Twitch.
Source: Mythical Games