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The Los Angeles-based Mythical games pioneered the idea of ”playable NFTs,” using this technology to uniquely identify game characters so players can truly own them. NFTs use blockchain, the secure and transparent digital ledger, to authenticate unique digital items. As recently as last week, Mythical raised $ 75 million from WestCap and others to seize the wider opportunity to license its NFT technology to other game companies.
CEO John Linden made the announcement today during a conference at the Electronic Entertainment Expo (E3) event, which is a fully online trade show. The company revealed major fashion, music and art collaborations for Blankos Block Party. It has agreements with Burberry, DeadMau5, Quiccs and El Grand Chamaco. The E3 conference included many artists talking about the potential they see in the mix of NFT, art and games.
“We’re bringing the game into early access, which is exciting, and we’re adding a lot of new features to the game itself,” Linde said in an interview with GamesBeat. “The MMO hub has been redesigned. Deadmau5 is going to be involved. Burberry will announce its first NFT. And we also have a lot of great artists involved.
Rob Manley, director of marketing at Burberry, told the E3 conference that being part of the gaming community is a great opportunity and that it represents the company’s first step into NFTs.
Blankos Block Party has vinyl style game characters that you earn (through playing), buy, or sell. He started testing his Marketplace where players can buy and sell their characters, which can be personalized or decorated with various things earned in the game.
The craze for NFT
Mythical is one of a number of game companies providing a “play to win” opportunity for players, allowing them to make money through the time and investment they put into the game. NFTs have exploded in other applications, such as art, sports collectibles, and music. Best shot in the NBA (a digital version of collectible basketball cards) is one example. Built by Dapper Laboratories, NBA Top Shot has surpassed $ 500 million in sales, five months after its IPO. And an NFT digital collage by artist Beeple sold at Christie’s for $ 69.3 million. But more recently NFTs have seen their prices drop, with some saying the hype is running out.
While many NFT projects have been dismissed as over-the-top get-rich-quick schemes, Linden said in an interview with GamesBeat that the company is keen to drive mass adoption of in-game ownership through playable NFTs.
The playable NFTS in Blankos Block Party has the same utility as any character or prop you might buy or win in another game, but due to the blockchain technology behind them, players actually own what they buy and can sell it in real money transactions when they no longer want or need it, freeing up the value of their time and money spent.
Before blockchain, players invested billions of dollars in digital items in other online games with no tangible way to benefit beyond the benefits of the game (or just showing off their bling); content gets stuck behind their account because their purchase is really just a rental or license agreement, with no possibility of transfer or sale, Mythical said. And while other secondary markets have existed in the form of gray and black markets, players who participate in them are exposed to dangerous trades, scams, and even the threat of losing their accounts for violating the terms of the market. ‘use, the company said.
“The market is where they can sell things,” he said. “Our accessories are always organized. But what players can do then is that with most characters, players can now customize so that they can be upgraded. We will continue to add things to this world. “
Linden said different brands will have a lot of options for their NFT characters. They can limit the number of them or the length of time they are sold to create a shortage. They can also offer them at different prices. What is different in this game is that the blockchain allows the provenance, or the ability to trace the history of an NFT. This means that brands can be paid a percentage of the sale price each time one of their NFT characters changes hands. And so they can benefit from an increase in the price of an item over time.
But the technology is not really easy to create. Mythical Games has more than 100 employees and has been working on its technology and game for three years, Linden said. Adding NFT to a game means a business needs to create a digital wallet for players to securely maintain their digital property. It is based on a blockchain platform, and this platform often needs to be modified to reduce transaction costs, speed up transactions, and use less energy than Bitcoin and Ethereum. All of this requires engineering work, and Mythical is always recruiting.
In addition to that, Mythical Games is in discussions with other game companies to license their platform to them so that those game companies can create their own games with playable NFT characters.
Mythical wants to drive mass adoption of gaming ownership through playable NFTs with the growth of its first game, Blankos Block Party; extension to other gaming platforms; and new projects launched later this year and into 2022. Via its Mythical Economic Engine and Mythic Market, the company says it provides a platform for game developers to create their own player-owned savings, as well as new tools for content creators and brands to make it easier to own game assets.
Through Mythical Marketplace, players can unlock the value of monetary, scarcity and time efforts by selling their NFTs to other players for real money, in safe and secure transactions with proof of authenticity. .
Early Access and Influence Events
In the open beta of Blankos Block Party, Mythical enabled player-designed levels. Players hold over 100,000 NFT; As the game’s audience continues to grow, legacy assets and specialty releases will become rarer and likely more valuable in the secondary market, creating mass-market scarcity and providing new sources of income for players. players.
Mythical streamers include KarlNetwork, Captain Sparklez, and KaraCorvus. People can tune in on Friday June 18th to watch and even join some of their favorite streamers in Blankos and they may have the chance to get a playable NFT Twitch Drop.
Mythical will be working with Deadmau5 (Joel Zimmerman) on a Blanko and accessories set inspired by his beloved cat, Professor Meowingtons, and the infamous deadmau5 helmet. This will drop in the summer of 2021.
Burberry will drop Blankos NFT, which will be released this summer as a way to reach gamers. And Mythical also works with Marathon Clothing, a brand owned by late rapper Nipsey Hussle. They will work together on equipment related to Blankos later this year.
And Mythical works with El Grand Chamaco, an illustrator based in the small village of Los Ramones. El Grand Chamaco’s artwork draws inspiration from its Mexican roots, embracing the vibrant colorful palette of culture in its 3D graphics. After years of perfecting his style, he gained fame as a leading illustrator and character designer, reinventing pop culture characters in his own portrayal. And Mythical works with Hackatao, an artist duo born in Milan in 2007. Hackatoo has been pioneering crypto art since 2018.
Blankos Block Party and the Mythical Marketplace are built on a private EOSIO blockchain using a Proof of Authority model that is more environmentally friendly and sustainable than the Proof of Work model (neither the game nor the NFT Blankos require crypto mining. ). With Blankos Block Party and its Marketplace, Mythical aims to drive the massive adoption of gaming ownership through NFTs and blockchain technology, opening the door to a new kind of global gaming economy where creators are owners. and players are asset holders. Mythical has raised $ 120 million to date and has over 100 employees.
Players can register now to join Blankos Block Party in early access on PC. The Mythical Marketplace, where players can buy and sell Blankos in peer-to-peer transactions for real money, is in its alpha phase and will continue to roll out to players this summer.
Linden said the game had very good key performance indicators (KPIs) in its beta testing.
“We’re really showing off all the fun things you can do in the game,” he said.
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