EOS-based Mythical Games Platform Raises $16 Million in Series A Funding Round

  • EOS-based Mythical Games platform has raised $16 million in a Series A funding round.
  • The EOS platform has received $325 million from previous funding rounds led by Galaxy Digital and Block.one.

Mythical Games, the developer of “video game engines for player-owned economies”, has completed a venture capital-backed $16 million Series A funding round.

Building Games On Blockchains

The funds will reportedly be used to create games for mobile and desktop computer users. Notably, Mythical Games’ platform will be developed on the EOS.io blockchain network, and the company is planning to announce the first set of games it will be launching.

Mythical’s management team consists of several members who have been actively involved in the gaming industry. John Linden, a computer engineering graduate from the University of Kansas, is managing Mythical’s key operations as the firm’s CEO.

Linden has previously worked at Activision, a large 40-year-old California-based video game publisher. The other C-level executives at Mythical include its chief compliance officer, Jamie Jackson (who also previously worked at Activision).

1 Million Waves To Be Rewarded To Game Developers

Notably, billionaire investor Michael Novogratz’s Galaxy Digital has made substantial investments into the ongoing development of the EOS platform. Launched in January of 2018, the $325 million fund has drawn investments from members of Block.one (the company that developed EOS) and Novogratz’s “full-service” crypto merchant bank, Galaxy Digital.

As CryptoGlobe reported in October, Chainbreakers, a virtual reality game, is being developed on the Ethereum-based Decentraland platform. Chainbreakers is based on a fictional story - which focuses on the notable events that took place in Ancient Greece.

As covered, the blockchain and smart contract-enabled, Waves platform, has announced the launch of a 1 million Waves (appr. $2 million) reward pool for developers who will build games on its network.

Gaming And Gambling Apps Lead The Way

Sasha Ivanov, the founder and CEO of Waves, had said:

I believe that the gaming sector will be an enthusiastic adopter of blockchain, and will drive its widespread use. Given the mutual opportunity here, we are more than ready to reward developers for the effort they make in implementing their projects within [the] Waves ecosystem.

Waves Platform CEO

In addition to gaming, online betting platforms are increasingly being developed on blockchain-based platforms.

In early November, CryptoGlobe reported that TronDice, a TRON-based gaming DApp (decentralized application), had paid out almost $5 million in TRX tokens. The TronDice DApp allows users to select a number between 2 and 100, and the game’s smart contract uses a random number generator to produce a number between 1 and 100. Rewards in TRX are distributed to users according to their choices

BitPay Blocks $100,000 Bitcoin Donation to Amazon Rainforest Charity

Neil Dennis

Crypto payments company BitPay has refused to honor a large donation to a non-profit environmental organization that is working to protect the Amazon rainforest.

Amazon Watch, founded in 1996 and based in Oakland, California, works to protect the rainforest and advance the rights of indigenous people in the Amazon Basin. It took to Twitter on Friday to complain that a donation of $100,000 was rejected by BitPay for being "too high".

Issue Escalated

Bitpay responded by saying it would escalate the issue and try to contact the donor. It then suggested the charity upgraded its approved volume on the Dashboard settings. However, Amazon Watch said it tried this and was told to email BitPay's compliance department.

BitPayintroduced its Dashboard at the beginning of August to help offer better support and improve the platform's risk mitigation and identity verification efforts. Reports of thousands of fires across the Amazon forest will no doubt have prompted many people to make charitable donations.