Horizon Blockchain Games Raises $40 million in Funding From Ubisoft & Polygon

The developer of the Skyweaver game, Horizon Blockchain Games, has announced a $40 million Series A round of financing.

Lead by Big Company

Among the investors in the round were Brevan Howard Digital and Morgan Creek Digital, with additional participation from Polygon, Take-Two Interactive, Ubisoft, Xsolla, The Sandbox co-founder Sebastien Borget, Sky Mavis and Axie Infinity co-founder Aleks Larsen.

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Horizon plans to use the funds to scale its operations and invest in Web3 products. A specific focus for the company will be to grow its developer stack and smart wallet Sequence, to extend the content and reach of the nonfungible token (NFT) turn-based card game Skyweaver, as well as introduce the semi-fungible token (SFT) marketplace Niftyswap.

The Fund Allow Them to Grow Their Sequence Ecosystem

Peter Kieltyka, Horizon’s co-founder and CEO, said the fund will enable the company to “grow the Sequence ecosystem by attracting more builders to our platform via marketing, community, and partnership initiatives.” 

In Skyweaver, players can battle each other and earn tokenized cards that they can trade on the market. This game operates on the Polygon network.

An initial test group of players played the game for months before it was launched in February. Before the service went live, 345,000 people signed up for the waitlist and over 3 million games were played in the private beta.

A Niftyswap marketplace aims to ease SFT trading by providing liquidity on-chain. It is possible for SFT to be fungible as well as non fungible.

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It was enabled by Horizon’s team’s co-creation of the ERC-1155 token standard, which enabled tokens to have fungibility until they are redeemed, when their value is lost and they become non fungible.

DappRadar data indicates that in September, blockchain gaming decentralized applications (DApps) interacted with more users, with seven of the top 10 games having “unique wallet addresses interacting with the dapp’s smart contracts” and all five of games posting positive results.

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Jamilatul Mahmudah

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