CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Mythos price prediction: Bullish debut for new gaming token

By Raphael Sanis

Edited by Charlie Mellor

14:43, 4 November 2022

Representation of crypto gaming featuring crypto coins in front of a game controller
Mythos is providing gaming developers with crypto infrastructure – Photo: Shutterstock

After being founded by the Mythical Games studio, Mythos has taken a life of its own. The foundation is empowering gaming developers to integrate blockchain technology, including non-fungible tokens (NFTs).

But it is still very early days for the MYTH token, having only launched on 1 November 2022. Both MYTH and the Mythos Foundation have bold plans, but there is a long journey ahead.

What is Mythos?

The Mythos Foundation is a new platform that is aiming to democratise and decentralise the gaming world. It essentially acts as an ecosystem for gaming developers to integrate into their player experiences. Its website said:

“Mythos will spearhead funding, development and distribution of gaming, token and blockchain technologies to reduce barriers to entry for innovative game developers wanting to build a thriving play-and-own economy.”

There are five different areas that Mythos is focusing on. These include:

  • seeking to improve cross-chain infrastructure for NFTs
  • gaming economies
  • the integration of gaming guilds
  • and Web 3.0 esports.

In addition, the fifth area of focus for Mythos is looking to collaborate with traditional gaming platforms.

Mythical Games

Mythos has stemmed from Mythical Games, a Web 3.0 gaming studio looking to bridge blockchain and the playing experience.

The Mythos Foundation was created by the gaming developer in October 2022, in an effort to decentralise its ecosystem, along with the wider gaming industry. This decision also resulted in the formation of the Mythos decentralised autonomous organisation (DAO).

As Mythical Games continued to move into decentralised territory, three top executives announced they were resigning on 2 November. These included the CEO Matt Nutt, co-founder Rudy Koch and senior vice president Chris Ko.

The MYTH token

Mythos has created its own utility token under the ticker symbol MYTH to deliver its goals and empower its partners.

Mythical Games was the first to utilise MYTH as its native utility token. The gaming studio will be using it as the native currency throughout its NFT marketplace.

According to Mythos’ website: “Mythical will be providing support and fully committing to integration of Mythos standards and technology and adoption of the mythos utility token in order to fuel next-generation game development and Web 3.0 gaming utility.”

MYTH will also act as the governance token on the DAO, giving investors a chance to vote on proposals affecting its ecosystem.

DOGE/USD

0.14 Price
-2.200% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

SOL/USD

179.47 Price
-2.240% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

ETH/USD

3,442.85 Price
-1.670% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

XRP/USD

0.61 Price
+2.240% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

MYTH’s price history

Mythos Foundation only launched in October and its MYTH cryptocurrency is even newer to the industry. The ERC-20 token was listed on CoinMarketCap on 1 November with an opening price of $1.21.

MYTH all-time performance

Source: CoinMarketCap

It saw a large spike two days later, which came after news broke about Mythical Game’s executives leaving. MYTH was also listed on its first centralised exchange (CEX), Uphold, on 3 November. Simon McLoughlin, CEO of Uphold, said in a statement:

“MYTH will be at the center of the NFT evolution and power next-generation game economies. As the only centralised platform to offer the token, we welcome the MYTHOS community to Uphold to acquire, hold and use MYTH in playing, creating and contributing to games.”

MYTH climbed to a high of $1.99 on 3 November, but it has corrected since this peak. At the time of writing on 4 November, it was trading at $1.47 and was up 21% since its launch price.

Mythos price prediction round-up

As it has only just launched, there are not many forecasters making a MYTH price prediction at the time of writing. However, it is important to remember that online forecasts can very often be wrong – and they can also change at a moment’s notice. 

CryptoPrediction warned investors that “mythos is a very new cryptocurrency” in its mythos coin price prediction. The site said there was not “sufficient information” for it to make a mythos price prediction for 2022 or beyond at the time of writing.

Meanwhile, DigitalCoinPrice was bold enough to make a long-term forecast. It suggested the coin wcould have averaged $1.59 this year. Its mythos price prediction for 2025 said it could have climbed to $3.87 and could have achieved $8.15 in 2030.

PricePrediction anticipated MYTH could have reached a maximum price of $1.64 by December this year. It said this value could have grown to $3.64 at the beginning of 2025. The site’s mythos price prediction for 2030 said it could have averaged $36.62.

When considering a mythos crypto price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.

FAQs

Is mythos a good investment?

Mythos is a decentralised ecosystem that aims to empower the gaming industry to switch to a blockchain model. Its first partner is the Web 3.0 studio Mythical Games.

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether mythos is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.

Will mythos go up or down?

There are limited MYTH price predictions at the time of writing. While PricePrediction and DigitalCoinPrice anticipated steady gains for the token between now and 2030,  CryptoPrediction was unable to offer any forecasts because of insufficient information.

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether MYTH is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.

Should I invest in mythos?

Whether you should invest in mythos is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.

Related topics

Rate this article

Related reading

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 630,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading