Skyweaver's parent company secures $40M in Series A funding

Published at: Oct. 5, 2022

Horizon Blockchain Games, the developer behind the Skyweaver game, has raised $40 million in Series A funding, the company disclosed on Oct. 4. The round was led by Brevan Howard Digital and Morgan Creek Digital, with additional participation from Polygon, Take-Two Interactive, Ubisoft, Xsolla, The Sandbox’s co-founder Sebastien Borget, Sky Mavis and Axie Infinity co-founder Aleks Larsen, among other investors. 

With the funds, Horizon plans to invest in Web3 products and scale its operations. Specifically, the company wants to grow its developer stack and smart wallet Sequence, expand the content and reach of the nonfungible token (NFT) turn-based card game Skyweaver, and introduce the semi-fungible token (SFT) marketplace Niftyswap.

Peter Kieltyka, Horizon co-founder and CEO, said the Series A allows the company to "grow the Sequence ecosystem by attracting more builders to our platform via marketing, community, and partnership initiatives." 

Based on the Polygon network, Skyweaver enables players to battle each other and earn tokenized cards to trade via its marketplace. The game was launched in February after months of testing for a limited number of players. According to the company, over three million games were played in the private beta and 345,000 people signed up for the waitlist before it went live. 

The Niftyswap marketplace is expected to make trading SFTs easier by offering liquidity on-chain. SFT is a token that can be both fungible and nonfungible. Fungible, until they get redeemed, when they lose their value and become nonfungible. It was enabled by the ERC-1155 token standard, which was co-created by Horizon's team.

Related: Solana tech developer Coral raises $20M, plans to launch 'xNFT' protocol

The number of users interacting with blockchain gaming decentralized applications (DApps) increased in September, according to data from DappRadar, with seven of the top 10 games having more "unique wallet addresses interacting with dapp's smart contracts" and all the top five games posting positive results.

Tags
Nft
Business
Blockchain Game
Funding
Games
Venture Capital
Gaming
Related Posts
Galaxy Interactive raises another $325M fund aimed at metaverse and next-gen games
Galaxy Interactive, a venture capital firm focused on next-generation interactive technology, has announced it has raised $325 million for its second fund from 70 different investors. The fund is focused on virtual and augmented reality, artificial intelligence and blockchain-based games. In a Tuesday announcement, Galaxy Digital, the majority owner of Galaxy Interactive, stated that $150 million from the fund has already been allocated to new portfolio companies, including Republic, 1047 Games, Elodie, Roar, Art Blocks and Masterworks, with other additional investments to be announced in coming months. Established in 2018 by general partners Sam Englebardt and Richard Kim, the company …
Technology / Oct. 20, 2021
GameStop looks toward NFT marketplace launch after big Q4 loss
Much loved retail video game store chain GameStop (GME) is looking ahead to its long-awaited NFT marketplace and Web3 gaming unit after suffering a net loss of $147.5 million during Q4 2021 GameStop quietly built a barebones NFT website in mid-2021 but has significantly ramped up efforts this year after unveiling an NFT and Web3 gaming division in January along with penning a major partnership with Ethereum (ETH) scaling solution Immutable X the following month to build an NFT marketplace. As part of the Q4 results — ending on January 29 and published on March 17 — GameStop revealed that …
Nft / March 18, 2022
$3B flows to metaverse and Web3 gaming this month as a16z tips in $600M
Venture capital firm Andreessen Horowitz (a16z) has launched a $600 million fund dedicated to gaming startups with a focus on Web3, saying it believes “Games infrastructure and technologies will be key building blocks of the Metaverse.” Dubbed Games Fund One, the fund will invest in three main areas: game studios, consumer applications — which support player communities, with Discord used as an example — and gaming infrastructure providers. The a16z team said “The coming Metaverse will be built by games companies, using games technologies” and that the industry has already “solved many of the problems that need to be solved …
Technology / May 19, 2022
Crypto gaming and the monkey run: How we should build the future of GameFi
You’ve seen it before. An amazingly talented gaming founder teams up with a top-tier studio, promising to create a wondrous game experience built on the industry’s most powerful engines. But then, it happens: It’s paired with a dubious shitcoin that launches well before even a morsel of game content drops. In the not-so-distant past, mainstream media may have referred to the hype-fueled crypto bull market — but, with Bored Ape floor prices still in the clouds, we’ll respectfully call it what it is: the monkey run. Market volatility aside, Metaverse evangelists still claim that Web3 finance will revolutionize the way …
Adoption / May 21, 2022
Battle-hardened Ronin bridge to Axie reopens following $600M hack
Sky Mavis, developers of the popular play-to-earn (P2E) nonfungible token (NFT) game Axie Infinity have announced that the Ronin bridge is back online three months after it was hacked for more than $600 million. The Ronin bridge is an Ethereum sidechain built for Axie Infinity, and it enables users to transfer assets between the sidechain and the Ethereum mainnet. On March 29, 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) was drained from the bridge after hackers managed to gain access to private validator keys. The hack was worth more than $620 million at the time. According to the …
Blockchain / June 29, 2022