Major gaming and blockchain companies are launching a joint autonomous organization to enable decentralization of games for Web3.
The CEO of blockchain game studio Mythical Games, John Linden, has previously lamented that his company is being accused of not being Web3 enough. Now, his company, along with 22 other market participants, has announced the creation of a DAO and a token, which are designed to help decentralize games on Web3. Companies such as Ubisoft, Krafton, Netmarble, Kakao Games, Com2uS, CM Games and others will take part in the launch of the Mythos Foundation.
The fund will be advised by Animoca Brands Chairman Yat Siu, former Twitter COO Adam Bain, Polygon Studios President Ryan Wyatt, and others from the industry.
The fund’s job will be to oversee the Mythos DAO, a decentralized community with the new Ethereum ERC-20 Mythos (MYTH) token. MYTH holders will be able to vote on ecosystem decisions and submit proposals. The Mythos Foundation will make decisions on cross-network issues, NFT standards, esports-related decisions, community support, and policy changes.
Mythical Games is known for developing games such as Blankos Block Party and NFL Rivals. More than once they have been called Web2.5 games rather than Web3 games. The studio has managed to add the Blankos game to one of the largest Epic Games Store sites for games. However, now the company intends to fully integrate into Web3.
Earlier, Coda Labs, a blockchain game development services provider, published a study that found Web3 games are still far from being accepted by mainstream gamers, despite huge amounts of money pouring into the industry.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
