Mythical games, an NFT-Focused Gaming Company, announced that it raised an additional $75 Million during the Series B Funding to continue developing its game and platform. This round brings total investment to $120 Million. The centerpiece of the project is Blankos Block Party which is currently in beta testing.
Led by growth equity firm WestCap, the funding round attracted high-profile investors like Gary Vaynerchuk’s VaynerFund. Signifying their confidence in the project, previous Mythical Games investors like Galaxy Digital, Alumni Venture Partners and Stuck Capital also joined.
Mythical Games – What are they building?
The gaming engine of Mythical Games centers on Blankos Block Party. It is an open-world multiplayer experience with community custom-made game modes and maps. To illustrate, users can explore player-created games across racing, collecting and shooting modes. The game is also a social hub that lets players connect and compete with friends. Once live, it will be a free-to-play game that employs user-generated content. The tone and gaming experience is a cross-over between Roblox and Fall Guys.
The game features vinyl-style characters called Blankos. In terms of appearance, it sends off a similar vibe to Funko Pop toys. Players can buy or earn Blankos through gameplay then sell and trade them.
Each Blankos character is a template. Users can layer it with design and cosmetic items. The skill category can also be customized. For example, players may configure it to be a “speedster” which will be great in racing games.
What makes collectibles like CryptoPunks, Bored Apes and Meebits valuable is the cosmetics. Mythical Games takes this a step further by assigning a unique serial number to each Blankos. Plus, players have an option to select boxed or unboxed Blankos.
Mythical Games’ take on Play-to-Earn
What is better than a free game? For Mythical games, it’s the game that pays you! The play-to-earn component comes in for Blankos that have been leveled up. As a player, you can level up your Blankos by playing daily quests or games made by other players. When you level up your Blankos you get skill points that unlock perks not found on lower-level characters.
There’s a market for leveled-up Blankos because many players don’t have time to grind and want to skip that part of the game. Hence, the play-to-earn value comes from the game-time needed to level up the Blankos. If this is combined with the cosmectic angle like having a rare trait, players can sell their Blankos for a big profit margin. The interplay between scarcity and cosmetics forces appreciation in the secondary market.
The complete picture
Mythical Games also supports Mythical Economic Engine and NFT Marketplace which consumers can develop and monetize their own NFTs for in-game use.
The game permits players to buy characters and skins as NFTs. As a result, ownership belongs to the players and can resell these digital items to the secondary market. Mythical games also smoothened out the experience by allowing players to use credit cards as a mode of payment. The NFT Marketplace is web-based so users can buy Blanko Block Party NFTs without even downloading the game.
Why Blankos Block Party is the next big thing
Marketing hasn’t kicked in yet but Blankos Block Party is already regarded as the next big thing. The vote of confidence of the community and players is so high because it’s a project of gaming veterans. The executives are from commercially successful games like Call of Duty, World of Warcraft, and Skylanders, which raised Billion dollar sales figures.
The wait is over because Mythicals Games will make a major announcement about the game on June 14 during the Annual Gaming Expo.