Mythical Games Adds Binance, FTX, Michael Jordan, The Chainsmokers And Ryan Tedder As Investors In Playable NFT Gaming

A next-generation gaming studio with play to earn NFTs is attracting some well-known names to invest in the company.

What Happened: Mythical Games raised $150 million in a funding round valuing the company at $1.25 billion.

Andreessen Horowitz led the funding round and was joined by some notable names in the entertainment and sports industries: D1 Capital, RedBird Capital, The Raine Group, Binance and FTX. Other supporters for Mythical Games included the NFL investment arm 32 Equity; The Chainsmokers' Mantis VC; Ryan Tedder of the band OneRepublic; OneTeam Partners; Jonathan Kraft of the Kraft Group (New England Patriots and New England Revolution); Michael Gordon of Fenway Sports Group (Boston Red Sox and Liverpool FC) and Michael Jordan and Chris Polk of Hornet Sports & Entertainment (Charlotte Hornets) and NASCAR Cup race team, 23XI Racing.

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Why It’s Important: The lineup of investors in Mythical Gaming could help bring brand awareness to the company and lead to partnerships with the music industry and sports teams down the road.

“As an early believer/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,” Tedder said.

Mythical Games has raised more than $270 million in total after today’s announced funding, including $225 million raised in 2021. Galaxy Digital Holdings Ltd BRPHF and Gary Vaynerchuk’s VaynerFund are existing investors in the company.

The company will use the funding to build out its Mythical Platform, which will allow other game companies to integrate NFTs into their games.

Mythical Games highlighted its “Blankos Block Party” game at E3 earlier this year. 

Disclosure: Author is long BRPHF shares.