Focusing on its game product development, Mythic Protocol targets launching the product into the global market next year, particularly in the US.
Heaptalk, Jakarta — Singapore’s game developer startup, Mythic Protocol, has seized its seed investment round at US$6.5 million (around Rp99 million), led by Alpha JWC Ventures and Shima Capital.
On the other hand, several venture capital firms, such as GDP Venture, Saison Capital, Planetarium Labs, Arcane Group, Presto Labs, MARBLEX, EMURGU Ventures, HYPERITHM, and other angel investors, also back this funding round.
“With a founding team that has published over 250 game titles since 2009 and is the largest game development team in Southeast Asia, we are confident they can succeed in the game development cycle going forward,” The Founder and General Managing Partner at Shima Capital, Yida Gao, affirmed.
This gaming startup plans to utilize the injection to build a Collaborative Entertainment ecosystem by operating blockchain, artificial intelligence (AI), game video, and creative media. In more detail, the ecosystem will cover the development and launch of the core product in the form of a collaborative RPG action-shooter game combined with a cross-platform (PC, console & gadget) rogue-lite progression system, namely RIFTSTORM.
The CEO of Mythic Protocol, Arief Widhiyasa, said that the video game industry experiences a technology cycle every 25 years. This cycle was marked by the growth of semiconductors, which created the video game industry, focusing on enjoyable games. Arief also observed that this transformation is supported by internet networks and gadgets, which accelerate the adoption of video games to the general public by creating a free-to-play business model.
“I believe that the next cycle will come soon. This cycle will be driven by distributed computing (blockchain) and artificial intelligence (AI), whereby the new obstacle that must be resolved is collective participation to generate value in an ecosystem, namely Collaborative Entertainment,” Arief added.
As a part of the strategic plan to broaden its business growth, this gaming developer startup will also increase its offering for game creators through a data collection called Decentralized Universal Meta on Blockchain (DUMB).
Besides, this startup team will develop the LEGACY digital asset class, which is expected to increase their asset growth. With these multiple moves, the Mythic Protocol targets to launch its games into the global market next year, particularly in the United States.
“The Collaborative Entertainment concept maximizes the potential and ideals that technology can offer. We want to build a system where every user contribution has meaning, attribution is fair, and action drives evolution. Blockchain technology contains plenty of potential. I deeply regret if this technology is not utilized properly due to excessive financial speculation.” The COO of Mythic Protocol, Igor Tanzil, affirmed.
Founded by video game industry veterans Arief Widhiyasa and Igor Tanzil, Mythic Protocol has 130 team members spread across various countries. The company team saw an opportunity to build a Collaborative Entertainment ecosystem initiated by game development to reach users. The company makes collaboration a basic principle, where creativity and consequence can provide peculiar experiences for investors, creators, and consumers.
“We are proud to back the Mythic Protocol team as they stick to their vision without being swayed by short-term trends. Their belief in a long-term vision is refreshing, and their insightful approach to new technology is inspiring.” The Partner of Saison Capital, Qin En Looi, said.
