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Mythic Protocol, a blockchain gaming company, announced today that it has successfully completed a $6.5 million (KRW 8.6 billion) seed round. The round was led by leading crypto venture capital firms Seema Capital and Alpha JWC, with additional participation from prominent investors including Syson Capital, GDP Ventures, Planetarium Labs, Arcane Group, Presto Labs, Mavrex, Emurgo Ventures, and Hyperism.

Mythic Protocol was founded by gaming industry veterans Arif Widyasa and Igor Tanzil. The team consists of more than 130 industry veterans who have worked at leading companies such as Microsoft, Samsung, and Intel. Starting with games, Mythic Protocol will acquire, retain, and scale users, and ultimately build an entire entertainment ecosystem. 

"We are very pleased to co-lead the seed round for Mythic Protocol," said Yida Gao, Founder and General Partner at Seema Capital. "Having launched over 250 games as one of the largest gaming companies in Southeast Asia, we are confident that the founding team will continue to build on their success."

"The gaming industry is like a clockwork, experiencing a new technology cycle every 25 years," said Arif Widiyasa, CEO of Mtic Protocol. The development of semiconductors gave birth to the gaming industry, and the first cycle of gaming focused on solving the most basic problem of 'fun'. The second cycle, driven by the internet and mobile computing, was a rush to bring games and gaming to the masses, and saw the emergence of free-to-play and freemium business models."

"We believe the next cycle is coming," Arif continued. This cycle will be driven by blockchain and AI, and the problem to be solved is the economy of collective participation in value creation within the ecosystem."

"We look forward to seeing the team's tenacity and challenging spirit, proven over the past 15 years in leading the Indonesian gaming industry, translate to the blockchain gaming market, which still lacks a 'killer app,'" said Lee Kebin, Head of Investment at global blockchain gaming company Planetarium Labs.