$MYTH - Revenue more than $IMX, Team from Activision, Blizzard, Backed by a16z, Binance
I am bullish on $MYTH
A team of gaming veterans from Activision, Blizzard, EA, Amazon gaming
Backed by the best in web2 and web3 from a16z, Binance, Galaxy, Hashed
Its generating $330m of annualized revenue more than $IMX but 10x smaller valuation 🧵👇
The $180B gaming industry, with 3B users, is led by mobile gaming, which holds a 50% market share but faces monetization and user acquisition challenges.
High turnover rates and expensive development costs make it tough for studios to sustain success, and traditional monetization models often meet resistance from gamers.
@playmythical is addressing these challenges by integrating Web3 technology, which enhances monetization, engagement, and retention.
Web3 gaming is seen as the next evolution, offering improved monetization and engagement.
What exactly is Mythical Games?
Founded by gaming industry veterans Activision, Blizzard, EA, Amazon gaming, @PlayMythical leverages blockchain technology to create immersive, player-owned game economies.
This allows for your in-game assets to be truly yours to trade and monetize.
The project has launched successful titles in the past each earning high user engagement and strong reviews.
You’re probably already familiar with a few of them; Blankos Block Party, NFL Rivals, and Nitro Nation World Tour.
The Power of $MYTH
The $MYTH token is central to Mythical Games’ ecosystem. It enables transactions within games, rewards players, and provides governance rights.
With $MYTH, players can have a real stake in the gaming worlds they love.
Mythical is about to experience a significant valuation re-rate, moving from a $300M valuation to a potential multi-billion-dollar outcome.
Why? Because they switch from a first party game system to a global gaming ecosystem with third party AAA games
$MYTH is significantly undervalued due to its strong metrics in web3 gaming, exceptional team, and transition from a studio to gaming infrastructure focus.
With gaming infrastructure valued at $1-7B and single titles at $300M+, $MYTH's current $300M valuation is low, especially given its leading NFT sales and organic growth.
MYTH's NFT sales also perform favorably when compared to entire blockchains, ranking similarly to Polygon Chain and surpassing Avalanche and Arbitrum in this aspect.
The token is also currently undergoing a transformation to an improved version, MYTH 2.0.
What sets MYTH apart?
MYTH offers a robust pipeline of both 1P and 3P games.
Third-party studios choose MYTH for its approved technology stack, industry expertise, strong relationships, and revenue uplift of 20-30%.
MYTH's partnership with Apple and Google led to the first approved NFT marketplace, demonstrating increased primary sales without cannibalization.
This aligns with the vision of web3 games seamlessly integrated for mainstream gamers, exemplified by NFL Rivals on MYTH.
That’s not all. MYTH's team brings extensive industry experience, including leadership roles at major gaming companies like $ATVI and successful studio acquisitions.
They are backed by top investors from various sectors, highlighting strong support and expertise across the board.
Mythical boasts a robust lineup of investors spanning traditional finance and Web3 ventures, along with notable backers from the entertainment and sports sectors.
This diverse investor base is instrumental in securing valuable IP and licenses for their games and ecosystem.
It’s clear how Mythical Games stands out as a leader in integrating Web3 technology into gaming.
With a seasoned team and strong investor backing, it's destined to revolutionize gaming monetization and engagement.
You can read more about their thesis here -
https://www.modularcapital.xyz/writing/mythical