Mythical Games aims to democratize blockchain gaming with the Mythos Foundation

Mythical Games announced that it is diving deeper into Web3 with the creation of The Mythos Foundation to manage its blockchain gaming ecosystem – and democratize gaming.

John Linden, CEO of Mythical Games – maker of the blockchain game Blankos Block Party – said in an interview with GamesBeat (at our MetaBeat event) that the foundation will be a decentralized autonomous organization (DAO), or group governed by those who collects or earns its tokens.

This DAO will have a number of participating gaming companies in some kind of alliance around the blockchain and its token. Participants include:

• Game developers and publishers: Krafton, Ubisoft, Marblex (Netmarble), Com2uS, CM Games, Post Voyager (Cocone), Kakao Games, PerBlue, Third Kind Games, Wemade
• Esports and guild companies: FaZe Clan, Gen.G, Sandbox Gaming, Yield Guild Games, Talon, EVOS
• Web3 and metaverse companies: Animoca Brands, Hadean, Klaytn, Line Blockchain, Oasys

“Some of the biggest players are now starting to feel it, too,” Linden said. “We think it will be good for the industry. We think it’s probably one of the biggest gaming alliances out there, honestly. It has been a long time.”

The process took about a year to figure out, as the company wanted to have solid governance.

“Our focus with the token is to build the tool with players,” Linden said.

The Mythos Foundation has been established to manage the day-to-day operations of the Mythos blockchain gaming ecosystem DAO. And while Mythical has been leading the charge on this type of game for a few years, it has received interesting support in the form of a dozen advisors.

With the support of industry leaders in Web3 games, the goal of the Mythos Foundation is to lower barriers to entry for innovative game developers who want to build thriving play-and-own game economies.

The Mythos Foundation also aims to democratize gaming and empower players and creators to participate in gaming value chains through the Mythos ecosystem, which is based on the support of multiple blockchains, unified marketplaces, decentralized financial systems and decentralized governance mechanisms.

“We’re seeing a lot of people go into the space. Sometimes they’re learning, sometimes they actually have something in development,” Linden said. “And nobody’s completely into Web3. And I think the common ground will see is that we as an industry must move this forward.”

Five key areas

The Mythos Foundation is initially focused on five key areas of development:

• Cross-chain infrastructure and NFT transport
• The development of NFTs and game economies for game developers and publishers
• Integration and support for gaming guilds and guild communities
• The growth of traditional esports participation in Web3
• Collaborate with traditional gaming platforms to create new guidelines that support the next generation of games and players

Mythos is also announcing the Mythos token (MYTH), an ERC-20 mainnet token with a fixed supply of one billion tokens. The token will provide Web3 gaming tools and facilitate ecosystem management, empowering players, developers, publishers and content creators to participate and contribute to a truly decentralized ecosystem.

Mythical Games is the first to adopt MYTH as its native utility token on the Mythical Chain and will use the token on the Mythical Marketplace.

The Mythos Foundation has recruited an initial group of ecosystem partners who will help move standards forward and collaborate on the development of a fully decentralized NFT Transport Protocol connecting the best in the gaming industry with the blockchain/web3 projects and initiatives.

“We started talking to a bunch of these groups and said five initiatives are important to come together on and do as an alliance rather than individual companies,” Linden said.

Cross-chain infrastructure, for example, has proven to be challenging to do, so it makes sense to tackle this problem through an alliance.

“As an alliance or industry foundation, we think it’s a more powerful group,” Linden said.

What could this alliance do? Perhaps it can approach a platform and ask it to support blockchain games and allow the titles on the platform.

Linden said many esports companies are interested in using the blockchain to monetize through better fan engagement. They can provide tokens as rewards to players, and players can use these tokens in games or secondary markets.

The foundation can itself undertake technical projects, which the membership has voted for. The members come from all over the world and from the entire gaming industry.

Mythical will use the MYTH token for its own new EVM-compatible blockchain, Linden said. The MYTH token will also be the initial token for the company’s markets.

The Mythos Alliance Partners will be eligible to serve a one-year term on one of the three separate sub-committees when elected through the Mythos DAO by MYTH token holders.

“Mythical has always been a player-first platform, and today’s announcement signals our commitment to ensuring our community has increased ownership over their gaming experience,” said Linden. “MYTH token holders will be the driving force as we, in collaboration with the Mythos Foundation and other industry partners, continue to revolutionize and democratize gaming to give everyone a seat at the table.”

The Mythos Foundation also announces an initial group of advisors from the blockchain, gaming and entertainment industries. The first set of advisors include:

• Rehito Hatoyama, former COO of Sanrio
• Yat Siu, chairman of Animoca Brands
• Pete Hawley, Product Manager for 100 Thieves
• Jaci Hays, CEO of FaZe Clan
• Alex Pall and Drew Taggart, The Chainsmokers & MANTIS VC
• Ryan Tedder, OneRepublic
• Lesley Silverman, head of Web3 at UTA
• Adam Bain, partner at 01 Advisors, former COO of Twitter
• Ryan Wyatt, president of Polygon Studios
• Matthew Rutler, Executive Vice President at Masterclass
• Alex Scheiner, partner at Redbird Capital, former president of the Cleveland Browns
• Kent Wakeford, co-founder of Gen.G Esports