Mythical Games announces $150M raise as the company expands into NFTs

The game developer’s total valuation is now $1.25 Billion, following a successful raise.

Mythical Games announced the conclusion of a $150 million fundraising round. The company conducted the raise at a $1.25 billion valuation on Thursday, which was led by global venture capital firm Andreessen Horowitz.

Mythical said it plans to use this new infusion of capital to help integrate NFTs into games. Andreessen General Partner Arianna Simpson said in a statement:

“Co-Founders John, Jamie, and Rudy have a wealth of experience in the gaming world, and have built a world-class team to support their vision. We’re thrilled to partner with them to bring NFT gaming to an even larger stage.” 

Other investors in this round included venture capital firms D1 Capital, 32 Equity (the investment arm of the National Football League), RedBird Capital, Com2Us, and The Raine Group in addition to cryptocurrency exchanges FTX and Binance Labs. Several professional sports franchise owners also participated including Jonathan Kraft of the New England Patriots and Michael Gordon of the Boston Red Sox. Ryan Tedder of OneRepublic said:

“As an early believer and investor in blockchain technology and NFTs, and as a much earlier believer in video games, I am happy to help back a company that understands not only where the world is at with gaming and tech, but where it’s headed.”

Mythical previously announced a $75 million round in June, the same month Andreessen Horowitz launched the largest crypto venture fund ever. That fund led a quarter billion dollar Series C for blockchain platform Alchemy in October.