Crypto funding: Mythical Games, One Trading come out on top in $90M week

Gaming and DeFi had another good week

article-image

Skrypnykov Dmytro/Shutterstock modified by Blockworks

share

Crypto startups raised just over $90 million this week, with Web3 gaming studio Mythical Games bringing in $37 million of that total. 

The first part of the Series C1 fundraise was led by digital asset manager Scytale Digital. Additional investors included Cathie Wood’s ARK Invest, Animoca Brands, MoonPay and a litany of existing investors, including Andreessen Horowitz. 

Mythical’s $37 million raise maintains its unicorn status and will also be key in achieving profitability in 12 months, according to a press release.

Mythical is behind mobile game NFL Rivals and open-world multiplayer game Blankos Block Party. Its next title will be Nitro Nation World Tour, a mobile racing game that sells NFT cars.

Mythical CEO John Linden gave more insight into the company’s goals following the latest cash injection.

“With over a million mobile downloads of NFL Rivals since launch last month and averaging over $1 million in daily transactions via the Mythical Chain, we are focused on getting the company to profitability and are seeing our vision realized and our strategy paying off,” Linden said in a statement.

Mythical’s C1 round is expected to conclude later in 2023 with “an additional $20-30 million.”

New centralized exchange forms, splits from Bitpanda

One Trading, the crypto exchange formerly known as Bitpanda Pro, secured about $33 million in a series A round led by Peter Thiel’s Valar Ventures. 

Bitpanda Pro was Bitpanda’s idea for a platform that catered to retail traders and institutional investors alike. With this fundraise, however, Bitpanda Pro rebranded to One Trading and will split from the company that created it.

Bitpanda wished the fledgling exchange good luck in a statement Wednesday, but mentioned it will retain minority ownership of One Trading.

“While Bitpanda will retain a small stake in the company, One Trading will have complete independence as they embark on this journey with full autonomy to innovate and grow more dynamically,” Bitpanda wrote.

One Trading announced on Twitter Thursday that it would “gradually” begin reopening the platform and listed out the trading pairs it will initially allow.

Loading Tweet..

One Trading will also keep its CEO and former JPMorgan executive Joshua Barraclough who joined Bitpanda in 2021.

Other notable fundraises

  • Pixion Games raised $5.5 million to invent a more accessible way to on-chain assets in game.
  • Metablaze, another game developer, locked down $4 million to prepare for a Sept. 15 launch.
  • Web3 infrastructure developer Startale Labs got $3.5 million from and partnered up with Sony Network Communications, a subsidiary of Sony. 
  • Hook Protocol, a DeFi options startup for NFTs, raised $3 million from a slew of investors, with the main ones being Collab+Currency and venture capital fund Lattice.
  • DeFi protocol AlloyX secured $2 million and announced a liquid real-world asset (RWA) vault product, tapping into a $537 million loan market.

Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg

Research

In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.

article-image

Revolut said that the standalone crypto exchange is currently “invite only”

article-image

The stock price jump comes after Coinbase reported ending its seven-quarter run of net losses during the fourth quarter

article-image

BUZZ holds shares of Coinbase, Robinhood and MicroStrategy

article-image

Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile

article-image

The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally

article-image

While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders