Riftstorm: Blockchain Collaboration and Cross-Platform Ambitions Funded with $6.5M in Seed Round

Entertainment company Mythic Protocol has successfully raised $6.5 million in an oversubscribed Seed Round to support the development of Riftstorm and the Decentralised Universal Meta. Leading the investment are Shima Capital, a major Web3 fund, and Alpha JWC. Other contributors include Saison Capital, GDV Venture, Planetarium Labs, Arcane Group, Presto Labs, Marblex, Emurgo Ventures, Hyperithm, and a group of angel investors.

Cross-Play Action-Shooter Rougelite

Mythic Protocol plans to allocate the newly raised funds towards the completion and launch of Riftstorm. This game is an action-shooter rougelite that supports cross-play between mobile, console, and PC platforms. Additionally, a portion of the funds will be dedicated to Mythic’s Decentralised Universal Meta on Blockchain, as well as a collaborative set of assets called Legacy.

The founding team of Mythic, composed of Arief Widhiyasa (Agate founder) and Igor Tanzil (ex-Agate CMO and CCO), has expanded the global team to over 130 members with veterans from Microsoft, Samsung, and Caravan Studio among them. The company’s mission is to combine creativity, collaboration, and consequence to provide unique experiences for investors, creators, and consumers.

Widhiyasa expressed his belief in the upcoming cycle driven by distributed computing (blockchain) and artificial intelligence, stating that the game industry undergoes a new cycle every 25 years. He sees the current phase as the third cycle, following the birth of the industry and the internet-driven free-to-play mobile games era.

“The concept of Collaborative Entertainment represents the realisation of ideals and potential that technology offers. To that end, I envision a system where every contribution is meaningful, attribution is equitable, and consequence drives evolution,” added Tanzil. “It really is a shame that so much of this potential has been squandered by frenzied financialisation in these past years.”

Yida Gao, the founder and managing general partner of Shima Capital, expressed excitement about co-leading Mythic Protocol’s seed round and expressed confidence in the founding team’s track record of success in launching over 250 game titles since 2009.

Earlier this week, a $8 million investment was made towards an NFT dinosaur game developed by veterans from Zynga, FunPlus, and NetEase.