How Mythical hits 100 million wallets

BCGW #190

Off-and-on, I’ve known Mythical Games CEO John Linden for over six years. And during that time he’s been unrelenting in his view that ‘web3 gaming isn’t mainly about profits, it’s mainly about digital identity’.

“Players love their games and they want to own them,” is one of Linden’s best quotes about why he thinks games using blockchains are inevitable; one I’ve used in many of my presentations.

Of course, this positioning of ownership over profit is one that I’ve been particularly riffing on in recent months as it’s become clear — to me — that no web3 game has the player base required for game design or token utility to counterbalance outside speculative forces when it comes to the price of their assets.

And much like any other gaming token, Mythical Games’ MYTH has been at the mercy of such pressures. It’s down 55% over the past 12 months.

Nevertheless, Mythical’s business KPIs are improving. Its mobile game NFL Rivals has been downloaded over 6.5 million times from the app stores.

And the revenue Mythical generates from the margin it takes on the game’s NFT trading has risen from 20% to 65% — that is it’s making more money from its players’ trading than from players directly buying IAPs.

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During 2025, it will launch two new high profile titles FIFA Rivals and Pudgy Party, and it’s also signed up four new titles from third party developers which will all run on its Mythos blockchain and sell NFTs via its Mythical Market.

Of course, whether or not you believe Linden’s claim that Mythical will onboard 100 million wallets over the next 18 months — a wallet is created for each player when they sign up to a game — is somewhat irrelevant at this stage.

Nevertheless I think it will take that order of magnitude before speculative pressures can be dampened, and Mythical is one of the handful of teams in the sector with the combination of experience, expertise and ambition to even attempt it.

All this and more is discussed in Blockchain Gaming World #190, available via YouTube and the usual podcast providers.

As ever, you can check out a transcript of our conversation at BlockchainGamer.biz.

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