Binance Labs, Binance's innovation and venture capital incubator platform, is injecting funds into Mythical Games, the maker of play-to-earn games and various NFTs with special uses.
In this series C funding, Binance disbursed USD 150 million, which raised Mythical's valuation to USD 1.25 billion and is predicted to drive rapid growth into play to earn and NFT games.
This organization creates a universal gaming ecosystem by leveraging playable blockchain and NFT technology. This technology allows gamers, creators, artists, brands, and game developers to have the freedom to define their play-to-earn games.
"We believe Mythical has the potential to be one of the disruptive players in the crypto gaming industry and the NFT ecosystem. Their team, led by experienced gaming industry executives, has impressed us with their vision and unique ability to build market-leading platforms. We look forward to seeing Their innovative play-to-earn and NFT concepts are disrupting the gaming industry and forever changing the way gamers interact with their favorite collectibles," said Bill Chin, Head of Funding at Binance Labs.
Games on the Mythical Platform value the time and monetary investment that players make as well as the rarity of the game collection within it by providing a way for them to sell their digital assets to other players for real money. Every in-game transaction is safe and secure on the Mythical marketplace.
"Players spend billions of dollars on digital assets every year, but the value of their past collections has often been locked in just one ecosystem. Leveraging NFT in games creates a whole new set of game design principles based on scarcity and opportunity to make money through games," said John Linden, one of the founder and CEO of Mythical Games, in the statement we received.
"As gamers and collectors, we believe players should have tangible assets that they can acquire and purchase. The Mythical platform leverages playable NFT and blockchain technology to open the doors of a new game-based economy and invite the community to enter into it; later, we will live where making money just by playing games is becoming a common activity," he added.
