Coin Week

  • bitcoinBitcoin$17,160.19-0.50%
  • ethereumEthereum$1,266.13-1.35%
  • binancecoinBNB$286.74-1.06%
  • rippleXRP$0.388816-1.57%
  • dogecoinDogecoin$0.097115-1.30%
  • SolanaSolana$13.64-0.34%

Mythical Games launches foundation to progress into Web3 with DAO and token

Mythical Games' massive foundation enlists several companies and advisors to progress into Web3

Image source: Game Developer

On Wednesday, blockchain gaming studio Mythical Games announced a foundation in an effort to expose decentralization to Web3 gaming more prominently.

According to CEO John Linden, Mythos has been accused of not being Web3 enough – something he is eager to change.

Mythical Games, along with 22 partner companies and a couple of big-name advisors, announced a foundation, DAO, and token to move their goal forward.

The companies

The foundation’s launch partners include CM Games, Com2uS, Kakao Games, Krafton, Netmarble, and Ubisoft, to name a few.

In the esports space, they have the support of EVOS, FaZe Clan, Gen.G, and Sandbox Gaming, among many more.

The foundation also has heavy hitters in the Web3 space like Animoca Brands, Hadean, Kalytyn, LINE Blockchain, and Oasys.

According to Linden, five other companies joined the foundation, but said they weren’t ready to announce them yet.

Advisors

According to the announcement, the Mythos Foundation managed to bring in an impressive roster of advisors including:

  • Former Sanrio COO Rehito Hatoyama
  • Animoca Brands Chairman Yat Siu
  • 100 Thieves’ Chief Product Officer Pete Hawley
  • FaZ Clan’s Chief Corporate Alliance Officer Jacy Hays
  • Former Twitter COO Adam Bain
  • Polygon Studios President Ryan Wyatt

Electronic music duo The Chainsmokers and Ryan Tedder from OneRepublic have also joined the foundation as advisors.

Mythos Foundation

The foundation is tasked with overseeing the Mythos DAO.

Mythos DAO is a decentralized community with a new Ethereum ERC-20 token called Mythos or MYTH.

The token is unrelated to the Binance Smart Chain Mythos token.

Holders will be given access to submit proposals and vote on ecosystem decisions.

For now, the Mythos Foundation will have to decide on matters like cross-chain, NFT standards, esports-related decisions, guild support, and policy changes.

The decisions will likely establish some consistency across crypto gaming.

Apart from being a governance token, MYTH will be used as the main currency in Mythical Games’ NFT marketplace.

It will also be used to secure Mythical’s blockchain.

“The one thing that we don’t really care for in the industry right now is single-game public mainnet tokens,” said Linden, shedding light on MYTH being a multifunctional token.

John Linden expresses hopes of the Mythos Foundation and DAO being able to function as a “Web3 alliance” of sorts in the video game industry.

He also hopes it will connect East and West to provide compatible, streamlined gaming experiences worldwide.

A shift in the company

For some time, Mythical has been known as the developers of “Blankos Block Party” and “NFL Rivals.”

The announcement marks a significant shift for the company.

“We’ve been called very Web 2.5,” said Linden. “And I’m like, ‘That’s cool. I feel like we’re moving to Web 2.7.’”

While it has taken some time, the slow progress towards Web3 has been part of the company’s plan.

One example is how it took Mythical one year to bring “Blankos” to the Epic Game Store.

John Linden also sees corporate allies as a necessity for Web3 gaming to succeed.

“The App stores–whether it’s mobile or PC or possibly eventually console–I think they’re pretty important if you’re going to get the game into mainstream economy,” he said.

“And I think the only way Web3 really is valuable long-term is [as] a mainstream economy.”

Linden also highlights the importance of getting gamers accustomed to Web3.

While some love the functionality of Web3, gamers don’t fully care about the concepts of crypto or blockchain.

Mythical wants everyone, not just Web3 enthusiasts, to play its games.

“It’s an evolution, not a revolution,” said Linden.

Reference:

Mythical Games enlists Ubisoft, Animoca, others to launch Web3 gaming DAO and token

Opinions expressed by Coin Week contributors are their own.

LATEST POSTS