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Burberry Cooperates with Mythical Games to Launch the First NFT in Blankos Block Party Game

The famous British luxury brand Burberry cooperated with Mythical Games to launch its first non-fungible token (NFT) series.

This Burberry Blanko, named Sharky B, is a shark-shaped NFT wearing a brand new TB Summer Monogram, which exists in the blockchain. The product will go on sale at 3 pm PST on August 11, according to the official Twitter.

As the first digital product released as part of the Burberry B series, gamers can buy, upgrade and sell in the Blankos Block game.

This partnership lays the foundation for applying digital currency to verify ownership and real rights in the game industry. Burberry said that for Mythical’s first flagship multiplayer game, Blankos Block Party, a limited edition vinyl NFT toy character Burberry Blanko would be produced.

The Chief Marketing Officer Burberry Rod Manley revealed that this cooperation is very innovative and said that:

“Mythical is transforming the way creators and brands engage with their audiences through blockchain and player ownership. The Burberry x Blankos collaboration is a highly anticipated first for both our companies-the first NFT collection for Burberry and the first luxury brand in Blankos Block Party. “

The brand stated that it hopes to establish contact and interaction with its brand through the community that players love, encourage players to interact with its brand in an environment that advocates art and design, release value for the gaming community, and bring this new customer experience to life.

Mythical Games Unveils Mythos Foundation DAO, Mythos Token to Democratize Web3 Gaming

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On Wednesday, Mythical Games, a Los Angeles-based video game development company developing games for playable non-fungible tokens, announced the launch of the Mythos Foundation to manage its blockchain gaming ecosystem and democratize gaming.

John Linden, CEO of Mythical Games, explained that the foundation is a decentralized autonomous organization (DAO) or a group that is governed by users who collect or earn its tokens.

As per the announcement, the DAO has enlisted a number of participating game companies (such as Krafton, Ubisoft, Marblex, Com2uS, FaZe Clan, Gen.G, Sandbox Gaming, Animoca Brands, Hadean, Klaytn, among others) and prominent advisors in a kind of alliance around the blockchain and its token. The process took about a year to figure out, as the firm wanted to have solid governance.

According to the report, Mythical Games created the Mythos Foundation to manage the daily operations of its Mythos blockchain gaming ecosystem DAO. Mythical has been leading the responsibilities for this kind of gaming for a few years, and it garnered vital support from several advisers.

With support from industry leaders in Web3 gaming, the objective of the Mythos Foundation is to reduce barriers to entry for innovative game developers who want to build prosperous play-and-own game economies.

The Mythos Foundation also aims to democratize games and enable players and creators to participate in game value chains through the Mythos ecosystem designed to support multiple blockchains, unified marketplaces, decentralized financial systems, and decentralized governance mechanisms.

Mythos has also launched the Mythos token (MYTH), an ERC-20 mainnet token with a fixed supply of one billion tokens. The token will offer Web3 game utility and facilitate ecosystem governance, therefore giving gamers, developers, publishers, and content creators the chance to participate and contribute to a truly decentralized ecosystem.

DAO Structures Empowering Players

There is a growing influence of decentralized autonomous organizations (DAOs) in the crypto gaming sector. Recently, a significant number of blockchain gaming platforms secured backing to form their DAO communities.

In January, Vietnamese blockchain gaming guild Ancient8 raised a $4 million seed round to accelerate its development of a DAO to build a community and software platform that enables users to play and build in the metaverse.

And the likes of Yield Guild Games raised $4.6 million last August; OP Games raised $8.6 million last October, and GuildFi also secured a $6 million seed round in November with the same purpose.

The advantage of using DAOs to build gaming communities is that they offer a transparent framework for decision-making that works at the grassroots level. In this way, they empower members of gaming communities who traditionally have been at the bottom of hierarchical structures.

Successful gaming DAOs provide access to capital, a strong sense of community, and reduced barriers to entry into the landscape of crypto games.

The bottom-up concept allows every stakeholder to submit proposals and ideas that other guild members can judge transparently and directly.

This clear decision-making process is particularly important in gaming, which is notorious for attracting toxic individuals who can impact entire communities online.

A key driver for users to become part of a DAO is the opportunity to make money and profit from the growth of underlying tokens, especially in the play-to-earn space.

Blockchain Video Game Firm Mythical Games Lays Off 10% Of Workforce

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Web3 game developer Mythical Games, which recently raised more than $270 million in venture capital has laid off its headcount by 10% as startups attempt to navigate a tough business environment and rush to rein in costs.

Nate Nesbitt, a spokesperson for Mythical Games, talked about the development on Friday and said just like all firms, Mythical has been affected by the economic downturn and has had to reassess and restructure some areas of its business accordingly. The executive then said: “Unfortunately, as a result, we had to make the painful decision to let some of the members of our team go.”

Mythical had about 320 employees, according to data from a LinkedIn profile. The Web3 gaming unicorn has shifted away from traditional corporate structures in recent months, favoring a more decentralized approach. In October, the firm established the Mythical Foundation as part of efforts to decentralize the gaming ecosystem.

The layoffs at a firm that was once valued at $1.25 billion in its latest valuation signal a widespread low interest of the so-called play-to-earn video games, which promise players the opportunity to purchase and sell in-game goods for real-life cash using nonfungible and blockchain tokens.

The job cut announcement comes just one day after three top executives of the Web3 game developer announced their departures from the company on Wednesday.

Co-founder Rudy Koch, Senior Vice President Chris Ko, and Chief Operating Officer and head of games Matt Nutt announced their departures on LinkedIn, sharing details about new upcoming venture opportunities.

Mythical Games is the latest affected tech firm. High-flying startups with record valuations, ambitious expansion plans, and huge hiring goals are currently announcing hiring slowdowns, freezes, and in some cases massive layoffs.

Investors and founders are preparing to navigate what looks like an economic downturn — and perhaps even a recession.

Big tech firms including Meta, Salesforce, Coinbase, and Netflix, among others, have recently announced layoffs in the midst of cost-cutting pressure, rising inflation, bear market, and rising interest rates.

Image source: https://www.bloomberg.com/news/articles/2022-11-04/blockchain-game-studio-mythical-games-cuts-10-of-staff