In 2018, it’s estimated that around 2.3 billion people will spend a total of $137.9 billion on video games. By the year 2021, the global games industry could be worth a whopping $180.1 billion.
One of the many ways gaming companies are looking to keep up the momentum is through the use of in-game virtual purchases. After all, we know there are more than a few gamers out there that are willing to spend money on virtual items or collectibles associated with their favorite games. For example, Fortnite, a popular online survival game, has seen players spend over a $1 billion on in-game purchases.
Mythical Games – Developing Decentralized Games
One company looking to capitalize on this purchasing craze is Mythical Games. This new gaming studio is focused on developing decentralized games – where players actually own the assets they acquire while playing. These virtual assets will be stored on the EOSIO blockchain for safe keeping.
Being able to store online purchases on a blockchain can be a great option for gamers. As CCN author P.H. Madore explains, “When a player acquires assets in a game like World of Warcraft, Ultima Online, or Runescape, they are at the whim of the company to stay in business and keep servers online. A decentralized game built on the blockchain can keep in operation, with assets retaining value, for as long as users desire them to. Not to mention how much easier it is to transfer assets when blockchain-connected accounts are involved.”
Former Activision, Yahoo!, and Blizzard Execs Involved
Mythical Games has some pretty big names steering the ship. The blockchain-based company’s CEO is the former head of Activision, John Linden. Their team features another Activision alum in CCO Jamie Jackson – who was also a former studio head.
Among the organization’s other notable executives is chief product officer Stephan Cunningham – previously the director of product management at Yahoo!. A former senior producer for Blizzard, Rudy Kock, will serve as the company’s head of blockchain.
With prominent alumni from Yahoo!, Activision, and Blizzard leading the way, Mythical Games has been able to garner plenty of interest from investors.
At press time, the new studio has raised over $16 million in funding from several different venture capital firms – including Galaxy Digital’s EOS VC fund.
Galaxy Digital’s CEO Mike Novogratz recently shared his company’s take on gaming, as it relates to blockchain tech:
“We believe that gaming – and specifically players’ interaction with in-game economies and virtual goods – will play a key role in how the masses first discover the true potential of the blockchain. Mythical’s experience building rich and immersive game worlds will be invaluable to this mission.”
“Blankos Block Party” Expeted Early 2019
The game maker’s first title, Blankos Block Party, is expected to be released in early-2019. Their debut title will feature collectible creatures called Blankos (vinyl toys) “brought to life.”
Mythical Games is one of the many new companies making waves in the ever-growing blockchain community.
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