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Mythical Games, a video game producer at Sherman Oaks, has secured $ 16 million in Series A financing, the company announced Friday.
It will use the funds to create a range of new games that allow players, brands and external developers to customize certain aspects of the game. This user-generated content – such as new game elements or new characters – will be purchased by players using in – game currency purchased with real money.
Similar monetization models are becoming more popular in games, including the famous "Fortnite" online shooter created by Epic Games Inc.
The fundraising campaign was led by Galaxy Digital's EOS VC fund, based in New York, and joined by Javelin Venture Partners of San Francisco and others.
"The investment of Galaxy, Javelin and our other new investors will allow us to launch a new approach to game development, giving players and content creators a bigger share in the games they like." said Mythical Games general manager John Linden. "We believe these new economic factors will eventually dominate the games, which will create an even larger and more accessible market for the industry."
Linden, a former studio director at Blizzard Activision, a video game maker in Santa Monica, co-founded the company with two other Blizzard executives.
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