Horizon Blockchain Games raises $4.5 million in new funding ahead of product launches
July 29, 2021, 10:53AM EDT
1 min read
Development studio Horizon Blockchain Games has raised a $4.5 million funding round.
The pre-Series A round, which the firm described as a "SAFE from strategic gaming and blockchain investors" (meaning simple agreement for future equity), drew support from investors such as BITKRAFT Ventures, CMT Digital, The Xchange Company, Khaled Verjee and Zyshan Kaba.
That figure brings Horizon's total funding to date to $13.25 million, on top of the $5 million and $3.75 million rounds raised in 2020 and 2019, respectively.
Horizon is currently a member of an accelerator program run by gaming giant Ubisoft, and with the funding in hand, it's planning to officially launch two products this year: a blockchain-based collectible card game, Skyweaver, as well as Sequence, a suite of tools for Ethereum development.
"We’re thrilled to launch both products this year, and to enable virtually anyone with an Internet connection to participate in and benefit from this next generation of the Internet: the decentralized web," CEO Peter Kieltyka said in a statement.
Blockchain-centric gaming envisions using the technology to create digital scarcity and provable provenance of in-game assets and items, with the potential for assets to be fungible across different titles. Recent funding rounds in the gaming space include Splinterlands, a Hive-based game that garnered $3.6 million in a token sale.
The Block Research was commissioned by Forte to create “Blockchain-Based Gaming: A Primer” which provides a comprehensive introduction to how blockchain technology is being employed in video gaming experiences.