Web3 Game Developer Mythical Games Loses 3 Top Executives

Three top executives at Web3 game developer Mythical Games announced their departures from the company on Wednesday.

Senior Vice President Chris Ko, Chief Operating Officer and head of games Matt Nutt and co-founder Rudy Koch each posted about their exits on LinkedIn, sharing details about upcoming opportunities.

Koch, who had worked at the gaming giant for four years, wrote that he’s “not finished with Web3” and has a “new venture cooking.”

Ko and Nutt, both veterans of gaming company Electronic Arts, each wrote that they’re in “stealth mode” on a new project and will share more information next week. It’s not immediately clear if the former executives are working on related projects.

“We are grateful to them for their leadership and the significant contributions they’ve made in helping the company get to this point, and wish them the best in the future,” said a representative from Mythical.

The successful Web3 game developer has moved away from traditional corporate structures in recent months, favoring a more decentralized approach. In October, the company created the Mythical Foundation in an effort to decentralize the gaming ecosystem. The move also introduced the Mythos DAO and related governance token running on an Ethereum-adjacent chain the company announced in August.

The departures also follow a trend of top-level exits from crypto companies coined “the great resignation.” In August, Michael Saylor scaled back his role as CEO of MicroStrategy to serve as executive chairman. In September, Kraken CEO Jesse Powell left the exchange he helped establish. A week later, Brett Harrison stepped down as president of brokerage platform FTX.US.