Mythical Games has announced a $16 million series A funding round. The company aims at integrating blockchain technology in the gaming industry and in the end develop world class video games for player-owned economies.

Funds allocation

According to a press release by the company’s management, “The funding will support the company’s first-to-market plans to develop and co-produce a slate of high-quality game titles (on mobile / PC / console) built around new player economies and user-generated content.” Despite the successful Series A funding round, the company is yet to release launch new blockchain-based video games.

The EOS.io blockchain network will underpin the mythical games platform thus providing all blockchain-related benefits.

Real Assets Ownership

Through blockchain’s distributed ledgers and smart contracts, players will be able to develop or get rewarded with digital assets. Players will own the digital assets contrary to the existing platforms where digital rewards are managed in centralized servers.

As elaborated on Mythical games website, “We believe that true ownership of digital assets, verifiable scarcity, and integrated secondary markets will spawn a new generation of games”

Players will be at liberty to retain their assets for as long as they wish. Through blockchain technology, they can also transfer their assets with ease.

Among the investors in the platform’s Series A funding is notable cryptocurrency crusader Mike Novogratz. Renowned for his wild speculations on Bitcoin’s value, Novogratz through his Galaxy Digital EOS VC Fund is betting big on the gaming platform. Javelin Venture Partners, famed for funding tech start-ups, is also behind the $16 million funding.

Fenbushi Capital, a venture capital fund for blockchain-powered firms, participated in the fund along with Divergence digital Currency, and OKCoin exchange among others.

The mythical games management comprises celebrated players in the gaming industry. The team is led by John Linden. Linden was a former studio head at Activision. The company based in California is almost half a decade-old and specializes in video games publishing.

Linden leads his former Activision colleague, Jamie Jackson and Rudy Kock, previously, the senior producer at Blizzard entertainment.