Mythical Games, a multi-faceted Web3 games studio, is launching a Web3 gaming DAO with the likes of Ubisoft and Animoca Brands, aiming to further the space. But what is the Mythos Foundation?
Mythical Games is a studio I have followed closely. They are best known for Blankos Block Party, the first blockchain-enabled game on Epic Games Store. However, they are also producing the officially-licensed, NFL Rivals, which is an upcoming, 3D arcade game based on American Football. There are other games in the works, including Nitro Nation, a Web3 racing project, but their involvement in blockchain gaming doesn’t stop at the development of games.
In a recent announcement, Mythical Games launched The Mythos Foundation and the Mythos Blockchain Ecosystem DAO, collectively known as Mythos. But, what are they?
What Is the Mythos Foundation DAO?
The Mythos Foundation DAO is focused on furthering Web3 gaming through 5 key areas:
- Cross-chain infrastructure and NFT transport
- Evolution of NFTs and game economies for developers and publishers
- Integration of, and support for, gaming guilds and communities
- Growth of traditional esports participation in Web3
- Aiding in onboarding Web2 gaming platforms
Mythos will spearhead funding, development and distribution of gaming, token and blockchain technologies to reduce barriers to entry for innovative game developers wanting to build a thriving play-and-own economy, thereby allowing for more web3-based interactive experiences to be created, and to reach a wider audience.
As you might expect, Mythos will have its own token, $MYTH, which is an ERC-20 mainnet token with a fixed supply of 1,000,000,000. Ownership of $MYTH will provide the utility DAO tokens typically do, such as voting rights on proposals and governance, as well as integration into Mythical Games projects such as Blankos Block Party.
The Mythos DAO has three subcommittees: Game Development and Publishing, Web3 and Metaverse Infrastructure, and Esports and Guilds. Each subcommittee has big names tasked with furthering their different specialties. In game development, there are the likes of KRAFTON, Ubisoft, and COM2US; in Web3 and metaverse, there are Animoca Brands and Klaytn; in esports and guilds, there are Faze and Yield Guild Games.
In addition to the subcommittees, there is a Special Council that will have five members elected by the DAO to “submit, review, and vote on proposals affecting the Mythos Ecosystem as a whole.” There will also be a roster of advisors with some familiar names already listed, such as Ryan Wyatt, President of Polygon Studios, and Yat Siu, Chairman of Animoca Brands.
The Mythos Foundation DAO is necessary — that would be what I want most to take away from this news. Token Gamer has become a multi-faceted organization over the last few years and out of the public eye, we have worked with and spoken to many Web2 and Web3 games companies. The truth of the situation is that the inclination to make the transition is there, but there is still a lot of friction. Although Mythos isn’t going to smooth out the journey entirely, its role is an important one and worth supporting.