Mythical Games Raises $150 Million After Successful Fundraising Effort Game Developer, Mythical Games, recently announced the conclusion of their most recent fundraiser. After its conclusion, they were able to raise a total of more than $150 million in new capital. They're planning to use this to expand their business into non-fungible tokens or NFTs.
Their Net Valuation Exceeds $1 Billion Now Andreessen Horowitz was the venture capital firm that organized Mythical Game's fundraising effort. Thanks to the infusion of capital, the company's total valuation reached $1.25 billion. The company's leaders have exciting plans to use their new capital infusion. They've been planning to expand into the crypto space. Plus, they'd like to integrate blockchain tech in their newest games.
They Plan on Expanding Into NFTs Non-fungible tokens are a new technology that has made a lot of developers excited. Using these, they'll be able to create one-of-a-kind digital assets. Then, they're able to sell them to players around the world. In the past, you couldn't create unique digital items without them being copied. However, the blockchain makes this a possibility today. Each item will have its own unique code, and it'll travel with it anywhere it goes. Players may bid on these items. And, if they win the bid, they'll own the unique assets.
Several Venture Capitalists Participated in Their Fundraising Effort There have been multiple venture capital firms investing in the company's fundraiser. There was one earlier this year that generated a total of $75 million in new investments. Even sports teams have begun to invest in their ideas. Mythical Games is ready to implement new technology in their products. Thanks to these investments, they've got the necessary funding to pursue their goals. So far, their venture capital firm has already launched several successful platforms. In July, they helped the blockchain platform, Alchemy, get off the ground as well.