Horizon Blockchain Games Confirms $40M Funding From Ubisoft And Take-Two
- Horizon Blockchain Games has recently raised $40 million in a Series A funding round, in which various traditional video gaming giants, including Ubisoft and Take-Two Interactive, participated.
- Brevan Howard Digital and Morgan Creek Digital led the funding round with participation from Xsolla, Polygon, Initialized Capital, BITKRAFT, Quantstamp, Everyrealm, Sky9 Capital, Round13 Capital, Xchange, Translink, CMT Digital, J17, Sentiment Capital, Perpetual Value Partners, and Unicorn Partners.
- The funding will be used on expanding the business’ ecosystem, which would entail hiring more experts to create better products.
Web3 game development-focused startup Horizon Blockchain Games has recently raised $40 million in a Series A funding round, in which various traditional video gaming giants, including Ubisoft and Take-Two Interactive participated.
As per an October 4 press release, Brevan Howard Digital and Morgan Creek Digital led the funding round which witnessed participation from various companies from the Web3 industry and tech space in general, including Xsolla, Polygon, Initialized Capital, BITKRAFT, Quantstamp, Everyrealm, Sky9 Capital, Round13 Capital, Xchange, Translink, CMT Digital, J17, Sentiment Capital, Perpetual Value Partners, and Unicorn Partners.
Moreover, individual investors, including Shopify’s CEO Tobias Lütke, Shopify’s VP of Product Acceleration Satish Kanwar, The Sandbox’s co-founder Sebastien Borget, Lolli’s co-founder Alex Adelman, Axie Infinity’s co-founder Aleks Larsen, Mighty Bear Games’ Web3 Director Michael Arnold, and The Daily Gwei’s Founder Anthony Sassano, also actively participated in the funding round.
According to Horizon, the funding will be used on expanding the business’ ecosystem, which would entail hiring more experts to create better products. Although the idea of a blockchain may be confusing to some, Horizon focuses on creating understandable Web3 solutions.
The announcement states:
“Our Series A empowers us to grow the Sequence ecosystem by attracting more builders to the platform and enabling the next generation of video games and applications.”
Additionally, Horizon plans to launch Niftyswap, a decentralised market for semi-fungible tokens (SFTs), which will enable the exchange of Web3-based in-game items and metaverse collectibles. Moreover, the company also plans to use a portion of the funds to enhance the content of Skyweaver, the company’s flagship game, which Horizon claims is “the best blockchain game.”
According to Peter Kieltyka, CEO and Co-Founder of Horizon, the company has always had a long-term perspective, therefore it carefully developed “complementary products” like Sequence, Skyweaver, and Niftyswap so they could innovate and further develop their own ecosystem.
“With Sequence, we enable builders to create the next generation of Internet experiences; with Skyweaver, we deliver a fun, strategic, and rich piece of content for gamers to enjoy; and with Niftyswap, we enable the seamless exchange of SFTs, which are poised to become some the world’s most useful and traded virtual goods,”
he stated.
Traditional gaming companies’ increasing interest
The traditional video game industry is beginning to show interest in Web3 development as NFT games gain popularity and is spending significant sums of money in blockchain gaming startups.
Ubisoft, which was the most notable gaming company in the funding for Horizon Blockchain Games, has developed multiple legendary titles in the industry, including Assassin’s Creed, Far Cry, Splinter Cell, and Rainbow Six. It is recently trying its hands in the blockchain space, with even the launch of an in-game NFT.
Similarly, with titles like Grand Theft Auto, NBA 2K, BioShock, Max Payne, and The Elder Scrolls, to mention a few, Take-Two owns 2K Games and Rockstar.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
