Gaming startup Mythical Games raises $150 million

The gaming studio behind Blankos block party has raised $150Mn in its recent funding round. This values the company at $1.25 billion in just a year. The funding round was led by global venture capital firm A16z. Recently there has been strong interest among global funds to fund companies in the crypto and blockchain space.

“Mythical Games played a formative role in the development of play-to-earn concepts and has clearly established itself as a top player among gaming technology studios, attracting mainstream players with its distinctive design and quality gameplay... We’re thrilled to partner with them to bring NFT gaming to an even larger stage.” said Arianna Simpson, general partner with Andreessen Horowitz, in a statement.

As if there hasn't been enough exciting stuff happening at https://t.co/yybUQYbp98 this week (ready to sleep for a month, anyone?!) I have some very exciting news to share: we at @a16z have led the series C in @playmythical! 🎮 🙌 https://t.co/F771reVcnz

— AriannaSimpson.eth (@AriannaSimpson) November 4, 2021

Other investors in this round included venture capital firms D1 Capital, 32 Equity (the investment arm of the National Football League), RedBird Capital, Com2Us, and The Raine Group, in addition to cryptocurrency exchanges FTX and Binance Labs. The platform already has hundreds of thousands of NFTs of user avatars and accessories. The founding team at Mythical Games comprises gaming industry veterans.

Currently, Blankos is only available as a desktop PC client directly downloadable from their own website. They don’t have mobile apps and they aren’t available on any PC game stores. Even without accessibility on mobile today, a16z Crypto sees a significant opportunity for Blankos and crypto gaming in general.

“I think mobile is definitely going to be an important part of the story going forward. There’s no doubt about that, but the desktop is still huge,” Simpson says. “If you look at it even today, the majority of the highest value transactions are happening on the desktop.”