A16z-backed Developer of NFT Games Raises $150M to Scale Out Business
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Nov. 4, 2021

Los Angeles-based developer of NFT (non-fungible token) games Mythical Games has raised $150 million in a Series C funding led by VC powerhouse Andreessen Horowitz (a16z).

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According to a press release, the latest funding round brings the company's valuation to $1.25 billion. Other investors, including Binance, FTX, D1 Capital, RedBird Capital, and The Raine Group also participated. The company says it will use the proceeds to grow its team and effectively scale out operations. John Linden, Co-Founder and CEO of Mythical Games, says the company believes that players should have "tangible assets that they earn and buy."

This is not the first time a16z invests in NFT-related startup. For example, the Menlo Park-based venture capital firm earlier backed Alchemy, a blockchain infrastructure provider. The company raised $250 million in Series C funding also led by a16z.

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