Mythic Protocol Raised Funds

Crypto News- Mythic Protocol Raised Funds, On September 12, 2023, in Singapore, Mythic Protocol successfully concluded an oversubscribed $6.5 million seed funding round, co-led by Shima Capital and the prominent Web 3 Fund, spearheaded by Yida Gao. Alpha JWC, a prominent VC powerhouse in the Southeast Asia region, also joined forces in the endeavor to establish an unprecedented entertainment ecosystem. This innovative venture harnesses the transformative potential of blockchain technology, gaming, and creative media through collaboration. Notable participants in this funding round include Saison Capital, GDV Venture, Planetarium Labs, Arcane Group, Presto Labs, MARBLEX, EMURGO Ventures, HYPERITHM, alongside various distinguished angel investors.

Mythic Protocol Raised Funds

Yida Gao, the Founder and Managing General Partner at Shima Capital, expressed their excitement about co-leading Mythic Protocol’s seed funding round, stating, “We are thrilled to co-lead Mythic Protocol’s seed round. With a founding team that has launched over 250 game titles since 2009, stemming from one of the largest gaming studios in Southeast Asia, we have full confidence in their ability to replicate their track record of success in the next phase of gaming.”

Mythic Protocol’s team, spearheaded by gaming veterans Arief Widhiyasa (Agate founder, Forbes Asia 30 under 30) and Igor Tanzil (former Agate CMO & CCO, Critical Forge founder), boasts a global roster of more than 130 team members. This diverse team includes industry experts hailing from renowned companies such as Caravan Studio, Microsoft, Samsung, Intel, and Symantec.

Recognizing a distinctive opportunity, the team set out to construct their Collaborative Entertainment ecosystem, underpinned by a game-first strategy to acquire, retain, and expand their user base. Collaboration forms the core principle of this project, fused with creativity (where ideas hold significance) and consequence (where actions have real impact), offering a distinctive and engaging experience for investors, creators, and consumers alike.

The funds procured from this round will be allocated towards the development and launch of the initial core offerings:

• Gamer Offering: Introducing RIFTSTORM, a collaborative action-shooter RPG with roguelite progression, facilitating cross-play across multiple platforms (PC, Console & Mobile).

• Creator Offering: Presenting the Decentralized Universal Meta (on Blockchain), humorously abbreviated as DUMB, as a collaborative source of truth for creators, serving as their building blocks.

• Investor Offering: Unveiling LEGACY, a collaborative ensemble of digital asset classes that evolve based on consequences, thus influencing asset growth and yield.

CCO Igor Tanzil articulated the essence of Collaborative Entertainment, saying, “The concept of Collaborative Entertainment represents the realization of ideals and potential that technology offers. To that end, I envision a system where every contribution is meaningful, attribution is equitable, and consequence drives evolution.” He later expressed his disappointment, adding, “It really is a shame that so much of this potential has been squandered by frenzied financialization in these past years.”