With games in the Non-Fungible Token (NFT) world beginning to really pick up speed the industry heavyweights in the conventional video game sector, are beginning to show more interest in Web3 development. As a result, they have begun to invest significant amounts of money into the blockchain gaming companies.
Video game studio and blockchain infrastructure company; Horizon Blockchain Games has made it known that it successfully raised 40 million United States Dollars (USD) which is around 4.9 billion Kenyan Shillings, during a Series A round of funding. Take-Two Interactive and Ubisoft were also involved.
The press release by Horizon Blockchain Games revealed that the Series A round of funding was spearheaded by Brevan Howard Digital and Morgan Creek Digital. Investors from the tech industry and Web3 industry were also involved. They include J17, CMT Digital, Translink, Xchange, Round13 Capital, Sky9 Capital, Initialized Capital, Everyrealm, BITKRAFT, Quantstamp, Xsolla, and Polygon.
The most notable from the gaming industry were Take-Two and Ubisoft.
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The startup; Horizon Blockchain Games, also develops blockchain-powered video games and partakes in Web3 game development.
French video game company Ubisoft, has over the years released some of the greatest video game franchises ever. They include Far Cry, Rainbow Six, Assassin’s Creed, Splinter Cell, and a number of others. It has also launched its own in-game NFT (Non Fungible Token), invested in the blockchain sector and aided in making the Tezos blockchain significantly more secure. Tezos, is an open source blockchain that can execute peer to peer transactions. It serves as a platform for deploying smart contracts. The native cryptocurrency for the Tezos blockchain is called the tez. The Tezos network achieves consensus by making use of proof of stake.
Take-Two Interactive Software, Inc. is an American video game holding company that is based in New York City. It currently owns two hugely popular publishing labels which are Rockstar and 2K Games both of whine are home to some of the world’s favorite video game titles like The Elder Scrolls, BioShock, Grand Theft Auto, Max Payne, NBA 2K, and others.
The Series A round of funding also had individual investments from notable names like the co-Founder of The Sandbox; Sebastien Borget, Aleks Larsen who is the co-Founder of Sky Mavis and Axie Infinity, the Chief Executive Officer (CEO) of Shopify; Tobias Lütke, and the Vice President of Product Acceleration at Shopify; Satish Kanwar.
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Horizon Blockchain Games stated that the money raised will be channeled towards improving the company’s ecosystem through the hiring of more employees who will aid in improving its products.
Although more than a few people still find the idea of blockchains a hard thing to understand, Horizon Blockchain Games continues to make the creation of web3 products that are user friendly, its main focus.
“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.”
Some of the funds raised, will be used to enhance the content on its front runner game; Skyweaver. Horizon Blockchain Games stated that the Skyweaver is the “the best blockchain game.”
Funds will also be channeled towards the launch of Niftyswap which will be its decentralized marketplace for Semi Fungible Tokens (SFTs) that will make it possible for the easy exchange of Metaverse collectibles and in-game items that will be based on Web3 technology.
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The co-Founder and Chief Executive Officer (CEO) of Horizon Blockchain Games; Peter Kieltyka made it known that the company has had a long term goal from the get go. As a result, they have worked carefully to create “complementary products” like Niftyswap, Sequence and Skyweaver, with which they can grow their ecosystem some more and also continue to innovate.
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According to Peter Kieltyka, “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.”
The co-Founder of Polygon; Sandeep Nailwal, stated that the platform was very pleased to be participating in the round of funding for Horizon Blockchain Games which will enable it further strengthen its ties with the company as it also helps spur on the adoption of the cryptocurrency ecosystem.
“We are onboarding some of the world’s biggest companies to Polygon, and it’s amazing to have the Sequence platform for developers, so that their journeys into web3 are seamless.”
Polygon is a decentralized Ethereum scaling platform that makes it possible for developers to create dApps that are user friendly, scalable and have low transaction fees without having to compromise on security.
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Although Horizon Blockchain Games has not revealed the amount of their current valuation, observers believe its may possibly have increased significantly. Especially if you put into consideration the fact that their previous funding round resulted in 4.5 million United States Dollars which is around 547.2 million Kenyan Shillings and ten (10) percent of what was raised this time around.
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