US-based blockchain videogame studio Mythical Games has secured $16m in a series A round backed by bitcoin exchange OKCoin.com, Deadline has reported.
The round included Eos VC Fund, a vehicle backed by digital asset banking firm Galaxy Digital and blockchain software publisher Block.one.
VC firm Javelin Venture Partners. Divergence Digital Currency Fund, Fenbushi Capital and Noris Capital also participated in the deal.
Founded in 2018, Mythical Games is developing video games that utilise blockchain’s distributed ledger functionality to create in-game economies based on the players’ ownership of digital assets.
The company’s first games will be powered by Eos.io, a blockchain intended for industrial-sized decentralised applications. Mythical also plans to launch development tools for game studios and brands to create ownable customised in-game assets.
The startup’s first title is a 3D animation-style game called Blankos Block Party, with the series A capital earmarked for an expansion of its studio and portfolio.
Michael Novogratz, chief executive of Galaxy Digital, said: “We believe that gaming – and specifically players’ interaction with in-game economies and virtual goods – will play a key role in how the masses first discover the true potential of the blockchain.
” Mythical’s experience building rich and immersive game worlds will be invaluable to this mission.”