Series A funding round jointly led by Brevan Howard Digital and Morgan Creek Digital for Horizon has yielded $40 million. The Chief Financial Officer Deborah Marfurt refused to declare the company’s current valuation. He only assured the public that it is higher than Horizon’s previous funding round which is $89.5 million.
Traditional video gaming companies Ubisoft Entertainment SA and Take-Two Interactive Software also took part in the Horizon Series A round. Other institutional investors are Polygon, Xsolla, BITKRAFT, Initialized Capital, Quantstamp, Everyrealm, and Sky9 Capital.
Round13 Capital, Xchange, Translink, CMT Digital, J17, Sentiment Capital, Perpetual Value Partners, Unicorn Partners, and many others also participated.
Individual key investors backed the round like Shopify’s CEO Tobias Lütke and VP Product Acceleration Satish Kanwar and Sebastien Borget. Additionally, Sky Mavis and Axie Infinity Co-founder Aleks Larsen, Alex Adelman, Michael Arnold, and leading Ethereum (ETH) educator Anthony Sassano joined.
Markedly, Horizon plans to use the fund to boost its product offerings, expand its Sequence ecosystem. More employees will be recruited into the Horizon team.
“We’re positioning Sequence as the go-to platform for any company or project building a web3 game, metaverse, marketplace, NFT, or consumer-facing web3 product,” the blogpost stated
“Sequence makes building web3 games and apps easy, and builders who are web3 native or coming from traditional web2 backgrounds can use Sequence to deliver seamless and user-friendly experiences using any or all of the products in our platform.”
Horizon Hopes to Make Web3.0 Fun
In the long run, Horizon intends to make Web3.0 fun, easy and accessible to users and developers alike. Presently, the blockchain game developer is considering expanding its Skyweaver content, a Non-fungible token (NFT) trading card game.
As of June, more than 400,000 accounts have been created on the Skyweaver platform. A new community feature will be added to the game to the Skyweaver game to make it more exciting and captivating. Also, Horizon will launch Niftyswap, a decentralized marketplace for easy and accessible trading of semi-fungible tokens (SFTs) and metaverse convertibles.
In the end, Horizon Co-founder and CEO Peter Kieltyka said “We have always had a long-term vision for the future of Web3.0, and are carefully building complementary products to support the ecosystem.”