Eightco makes strategic investment in Mythical Games for gaming verification

EASTON, Pa. - Eightco Holdings Inc. (NASDAQ:ORBS), a $2.45 billion market cap company currently trading at $9.84, announced today a strategic investment in Mythical Games’ Series D financing round, joining Cathie Wood’s ARK Invest and World Foundation. The transaction is expected to close next week. According to InvestingPro data, the company has seen remarkable growth with a 349% return year-to-date, despite operating with weak gross profit margins of 12.14%.

The investment aligns with Eightco’s strategy to allocate up to 1% of its treasury assets toward venture-style investments in authentication technologies, according to a company press release. InvestingPro analysis reveals the company’s aggressive growth strategy comes with significant risks, as indicated by its current ratio of 0.3, suggesting potential liquidity challenges. Subscribers can access 12 additional ProTips and comprehensive financial analysis on the platform.

Mythical Games, led by former Call of Duty studio head John Linden, operates several gaming franchises including NFL Rivals, Pudgy Party, and FIFA Rivals. The company plans to integrate with Worldchain, an ERC-20-compatible blockchain built for Proof of Human verification.

"This investment marks another key step in our mission to become the authentication layer of the post-AGI economy," said Dan Ives, Chairman of Eightco. The company’s stock has shown significant price volatility, a characteristic that InvestingPro analysts closely monitor for trading opportunities.

Mythical Games has three active games with over one million installs each, totaling more than 10 million combined installations. Its marketplace reportedly handles over $400 million annually in NFT sales volume and has over 9.6 million funded wallets.

The partnership aims to enable interoperability between gaming assets, wallets, and identity verification, potentially reducing fraud while improving user onboarding processes.

"Mythical is integrating with Worldchain to bring identity and trust into the next era of gaming," said John Linden, CEO of Mythical Games, adding that the goal is to connect players through secure, human-verified accounts.

Eightco describes itself as building the authentication and trust layer for the post-AGI world, focusing on consumer, enterprise, and gaming authentication.

In other recent news, Eightco Holdings Inc. has announced several significant developments. The company launched a pilot program focused on AI authentication for enterprise clients, aiming to tackle identity and verification challenges as businesses expand their use of artificial intelligence. This initiative involves strategic investments and partnerships, including a unique Worldcoin treasury. Eightco also revealed its ’Power of 8’ initiative, targeting the acquisition of 800 million Worldcoin tokens and the verification of 8 billion humans. Since the launch of its Worldcoin treasury strategy, the company has verified over 17 million humans, with an ambitious goal of reaching 100 million verified users within the next year. Meanwhile, BitMine Immersion Technologies disclosed that its cryptocurrency holdings have reached $11.6 billion, including a $157 million stake in Eightco Holdings. These developments indicate active strategic moves by Eightco in the digital identity and cryptocurrency sectors.

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