Horizon, the developer of non-fungible token (NFT) trading card game Skyweaver, has raised $40 million in a Series A funding round, the firm said on Tuesday.
The blockchain-based gaming startup plans to use the capital to build out its Sequence developer platform, Niftyswap marketplace and Skyweaver game and to hire more staff.
The round was led by Brevan Howard Digital and Morgan Creek Digital and included investments from traditional gaming companies Ubisoft (UBI) and Take-Two Interactive (TTWO). Other participants included Polygon, Bitkraft Ventures, CMT Digital, Quantstamp, Round13 Capital, Xchange and Everyrealm, as well as individual investors, including Shopify CEO Tobias Lütke, Sandbox co-founder Sebastien Borget and Axie Infinity co-founder Aleksander Larsen.
Bloomberg was the first to report on the funding round. No valuation was disclosed, though Chief Financial Officer Deborah Marfurt said it was higher than the company's previous funding round last year, when it was valued at $89.5 million, according to the Bloomberg report, which cited PitchBook data.
UPDATE (Oct. 4, 13:50 UTC): Updates sourcing in headline and lead paragraph.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.