$16 Million Raised By Activision Alums For EOS-based Game Studio 

The EOS Blockchain is one of the few third generation blockchains that can compete with Ethereum. Because it is cheaper to use and more scalable that Ethereum, developers are beginning to build on it. A next generation gaming studio known as Mythical Games focused on online games that give players the power to own assets that they get while playing the game, has just decided to build on EOS. This is done through digital ownership that is powered by the blockchain. There will be no need for centralized servers like there are in other games not based on the blockchain.

Centralized Vs Decentralized Games

If a player acquires assets while playing a centralized game like Ultima Online, World of Warcraft or Runescape, they will have to hope that the company servers remain online for them to enjoy their assets. However, because of the decentralized nature of the blockchain, games built on it will remain in operation and the assets will retain their value for as long as the user wants. Transferring assets is also easy as long as the the receiver is connected to the blockchain.

While the company hasn’t launched the game yet, it announced that it has already raised $16 million from five venture capital companies which include OkCoin, and Galaxy Digital’s EOS VC fund. In a press release the company said:

“The money we have raised will support us in making plans to co-produce and develop high quality game titles that are built around user-generated content and new player economies. Led by Galaxy, the funding included investment from Javelin Venture Partners, Noris, DDC, OKCoin, and Fenbushi.

The executives and employees of the company include Yahoo and Activision. With the funds from the investment round, the company will start building its first offerings. The CEO of Galaxy Digital Mike Novogratz, said that the firm is highly interested in the gaming sector. In his words:

“We believe the gaming sector, especially games that have virtual goods, in-game economies and player interaction will be key in how the public tap into the potential of blockchain technology. Immersive game worlds that promote experience building are invaluable”.

EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$1.82
-5.67%

A huge part of the $16 million fund came from galaxy Digital EOS VC fund. So, Mythical will be creating products on the EOS blockchain. Mythical offerings aren’t

the first to enter the blockchain space. Not too long ago, Decentraland was all over the news after it gave people the power to own property and take loans in the virtual world using blockchain technology.

EOS (EOS) Price Analysis

Main while, the good news within the EOS community hasn’t done much to boost the price of the sixth largest cryptocurrency in the world per market capitalization. At the time of writing, EOS was trading below $5 at $4.54. This shows that it is down by 0.87% against the USD and down by 0.22% against Bitcoin. The 24 hour trading volume is $844,580,287 and the market capitalization is $4,112,159,572. To be fair, EOS isn’t the only cryptocurrency that is currently trading in red against the USD. Apart from XRP, all the top ten coins on CoinMarketCapital are trading red against the USD.

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