As NFT games grow, the traditional video game industry begins to take an interest in Web3 development, investing large sums of money in blockchain game companies.
On October 4, Horizon Blockchain Games, a startup focused on Web3 game development, announced the raising of $40 million in a Series A funding round, which involved large traditional video game companies such as Ubisoft and Take-Two Interactive.
According to Horizon’s press release, the funding round was led by Brevan Howard Digital and Morgan Creek Digital. It featured investors from the Web3 industry and the wider tech space, including Polygon, Xsolla, BITKRAFT, Initialized Capital, Quantstamp, Everyrealm, Sky9 Capital, Round13 Capital, Xchange, Translink, CMT Digital and J17, among others ; however, most notable for the gaming community were Ubisoft and Take-Two.
Ubisoft has developed some legendary titles in the video game industry, such as Assassin’s Creed, Rainbow Six, Splinter Cell and Far Cry, among many others. It has also invested in the blockchain space, even releasing NFTs into the game and helping secure the Tezos blockchain.
At the same time, Take-Two owns 2K Games and Rockstar, which have several very popular titles such as Grand Theft Auto, NBA 2K, BioShock, Max Payne and The Elder Scrolls to name a few.
In addition, the funding round featured individual investments from key figures such as Aleks Larsen, co-founder of Sky Mavis and Axie Infinity, Tobias Lütke, CEO of Shopify, Satish Kanwar, VP of Product Acceleration at Shopify, Sebastien Borget, co – founder of The Sandbox, among others.
An easy and fun Web3 to use
According to Horizon, the proceeds will be used to grow the company’s ecosystem by hiring more staff to develop better products. The concept of a blockchain may seem complex to many, but Horizon’s focus is on creating easy-to-use Web3 products.
“Our Series A allows us to grow the Sequence ecosystem by attracting more builders to the platform and enabling the next generation of video games and apps.”
In addition, they will use some of the money to improve the content of Skyweaver, the company’s flagship game (which Horizon says has been called “the best blockchain game”) and launch Niftyswap, a decentralized marketplace for tokens semi-fungible (SFT). ), which will allow the exchange of Web3-based in-game items and metaverse collectibles.
Horizon is committed to long-term Web3 development
Peter Kieltyka, CEO and co-founder of Horizon, said the company has always taken a long-term view, so they’ve worked carefully to build “complementary products” like Sequence, Skyweaver and Niftyswap, with which they can innovate and follow come in. expand your own ecosystem.
“With Sequence, we enable builders to create the next generation of Internet experiences; with Skyweaver, we provide fun, strategic and rich content for players to enjoy; and with Niftyswap, we enable the seamless exchange of SFTs, which are poised to become some of the most useful and tradable virtual goods in the world.”
Sandeep Nailwal, Polygon’s co-founder, noted that Polygon was excited to join Horizon’s funding round to deepen its ties with the company while driving adoption in the crypto ecosystem.
“We’re bringing some of the world’s biggest companies to Polygon, and it’s amazing to have the Sequence platform for developers, making their web3 journeys seamless.”
Horizon did not disclose the amount of its new valuation, which could have risen exponentially, considering its last funding round was in July 2021 for $4.5 million. – Almost 10% of what they collected in the latter.
Binance Free $100 (Exclusive): Use this link to sign up and get $100 free and 10% off fees on Binance Futures in your first month (terms).
PrimeXBT Special Offer – Use this link to sign up and enter code POTATO50 to receive up to $7,000 in your deposits.