About Mythos Token (MYTH)

Mythical Games, the company behind Blankos Block Party, a popular multiplayer game, in early October of 2022 announced a new effort to decentralize Web3 gaming and support new gamers/developers in its multi-purpose ecosystem by way of a new platform powered by a new token, Mythos (MYTH).

Areas of focus will include the creation of NFT-enabled games; and the project intends to throw its support to Web3-minded developers by way of the MYTH-powered platform.

To bolster decentralized credibility, Mythical Games has formed The Mythos Foundation. It includes, per a news release, a group of advisors from across the blockchain, gaming and entertainment industries. The lineup of Web3 expertise includes: Animoca Brands Chairman Yat Siu; Polygon Studios president Ryan Wyatt; and 100 Thieves’ chief product officer Pete Hawley.

The project also counts an impressive roster of e-sports alliances, including FaZe Clan, Gen.G, Sandbox Gaming, and EVOS, Decrypt said. And in Web3, Mythos has gathered Animoca Brands, Klaytyn, Hadean, LINE Blockchain, and Oasys.

“Watch out, Yuga,” Decrypt said, referring to the company behind ApeCoin. “Mythos and the MYTH token are coming.”

The Mythos Foundation said it will focus on five key areas of development, including: cross-chain infrastructure, the evolution of non-fungible tokens (NFTs) and game economies, support for gaming guilds, growing traditional esports participation in Web3 and collaborating with traditional gaming platforms to craft new policies for gamers at large. It will, per the foundation’s website, also manage the operations of the Mythos DAO, a newly formed decentralized autonomous organization that will provide its players with a voice in its ecosystem development.

"Mythos aims to democratize the gaming world and allow for players and creators to participate in the value chain," the foundation's website.

It is grounded in the support of multi-chain ecosystems, unified marketplaces, decentralized financial systems, decentralized governance mechanisms and multi-token game economies.

Mythical Games’ CEO John Linden told CoinDesk that its mission to expand blockchain gaming is best accomplished through a DAO and also added that Mythical’s move to decentralize its platform aligns with the Web3 ethos it has already put into its wares.

“Groups can have different uses of the token as they see fit,” Linden said. “But when we start building tech going into 2023, as the alliance is fully decentralized it uses that token as the primary utility token behind these new services.”

Plans are afoot to divide the DAO into three subcommittees focused on: game developers, esports and guilds; Web3; and the metaverse.

When was MYTH created and how much was it worth?

Mythical Games is the initial contributor and supporter of Mythos, the Mythos Foundation website says.

It also says that a token generation event happened on May 12, 2022. However, no pricing information is available as yet. Updates will be forthcoming.

Mythical Games recently raised $150 million in a funding series and is on the verge of developing new immersive blockchain-based games, CryptoNews said.

Mythical Games’ Blankos will be the first game on the Epic Game Store, the creators of Fortnite.

How is the price of MYTH determined?

Members of forthcoming project-steering subcommittees will be elected by way of the Mythos DAO, which, as mentioned, is controlled by holders of governance token MYTH. It’s an ERC-20 token with a total supply of 1 billion. That supply is fixed, so deflationary dynamics could come into play in the long-term while things like social media hype likely will drive prices in the short-term. New projects tend to catch price momentum early but can easily lose their steam.

MYTH, per the foundation, will be used to vote on all proposals through the Mythos DAO. And MYTH will be the native token of the Mythical Chain. That chain underpins all products from Mythical Games.

Additionally, MYTH will be the primary token on the Mythical Marketplace, powering Blankos Block Party transactions. In fact, all transactions and exchanges in the Mythical Marketplace will be powered by the MYTH token.

Why does MYTH have value?

The Mythos Foundation says its massive alliance will be providing support to fuel next-generation game development and Web3 gaming utility, while also helping to recruit the first set of Mythos governance partners and advisors from related industries.

Growth of the Mythos blockchain gaming ecosystem could hinge on these partnerships actually thriving alongside the newly created DAO which will be controlled by MYTH holders.

Is MYTH secure?

ERC-20 tokens run on Ethereum which is known for robust security.

What are the main benefits of MYTH?

• The MYTH token will provide Web3 game utility and facilitate ecosystem governance, as well as provide gamers, developers, publishers and content creators the opportunity to participate and contribute to a truly decentralized ecosystem, according to the Mythos Foundation. MYTH is native utility token on the Mythical Chain and will be used within the Mythical Marketplace.
• The Mythos Foundation said it aims to “democratize” games, which means players and creators get to participate in revenue generated across the value chain.
• The Mythos ecosystem is grounded in the support of multiple blockchains, unified marketplaces, decentralized financial systems and decentralized governance mechanisms, per the Mythos Foundation.
• The project seeks to leverage what it sees as a “powerful, massive gaming alliance,” CEO Linden told CoinDesk.

What do critics say about MYTH?

Not much by way of critique has been aimed at MYTH thus far but it is very early in its lifespan. Indeed, details on this token remained very sparse as of mid-October of 2022. No trading volume information, for example, could be found but expect updates soon.