November 25, 2019
Los Angeles-based Mythical Games raised $19 million to pursue its mission of creating games with blockchain and allowing players to benefit via ownership. The company, which has dubbed this strategy “player-owned economies,” is at work on its first game. Javelin Venture Partners was the lead investor, joined by new investors Avon Ventures, Alumni Ventures and Hashed. Galaxy Digital, via its Digital EOS VC Fund and Struck Capital, are other current investors. Mythical Games raised $16 million last year in two rounds.
VentureBeat reports Mythical Games chief executive John Linden stated that the company, which has raised a total of $35 million, is now “well capitalized to lead this evolution in gaming economics for PC, console, and mobile games bringing participation from players, brands, eSports teams, and influencers directly into the game economics.”
“Since investing in Mythical’s Series A round last year, we have been incredibly impressed by the team’s execution on the build out of ‘Blankos Block Party’ and the Mythical platform,” said Javelin Venture Partners managing director Alex Gurevich, “The ‘Blankos’ gameplay … demonstrates the enrichment player-owned economies can have on a game.”
Mythical Games has also made some important hires and strengthened its board of directors. New chief operating officer Jeff Poffenbarger was most recently a studio head at Oculus VR and a senior executive producer at Activision and Activision Blizzard.
Chief product officer Pete Hawley was the last chief executive at Telltale Games and former senior vice president for games at Zynga, and vice president of marketing Nicole Yang was most recently vice president of marketing at Telltale Games and vice president of product marketing at Zynga. Mythical Games’ new general counsel Greg Deutsch was formerly a long-time general counsel at Activision.
Mythical Games has 30+ full-time employees in offices in Seattle and Los Angeles.