Skyweaver’s parent company raises $40 million in Series A funding

The round was led by Brevan Howard Digital and Morgan Creek Digital, along with Polygon and Take-Two Interactive, among other investors.

According to data from DappRadar, the number of users interacting with decentralized blockchain gaming applications (DApps) increased in September, with seven of the top 10 games recording higher “unique wallet addresses interacting with dapp’s smart contracts,” and all the top five games posting positive results.

Horizon Blockchain Games, the creator of Skyweaver game, has raised $40 million in Series A funding, according to a statement released on Oct. 4. Brevan Howard Digital and Morgan Creek Digital, among other investors, led the round. Polygon, Take-Two Interactive, Ubisoft, Xsolla, The Sandbox’s co-founder Sebastien Borget, Sky Mavis and Axie Infinity co-founder Aleks Larsen, among other investors participated.

Horizon wants to use the funds to grow its Web3 product portfolio and scale its operations. Specifically, it would like to expand its developer stack and smart wallet Sequence, increase the content and audience for the nonfungible token (NFT) turn-based card game Skyweaver, and introduce the semi-fungible token (SFT) marketplace Niftyswap.

Peter Kieltyka, Horizon co-founder and CEO, said the Series A funding allows the company to “enlarge the Sequence ecosystem by attracting more builders to our platform via marketing, community, and partnership initiatives.”

Players can battle each other and earn tokenized cards via the Polygon network while playing Skyweaver. The game was launched in February after months of testing for a limited number of players. According to the company, over three million games were played in the private beta and 345,000 people signed up for the waitlist before it went live.

On-chain liquidity is expected to make trading SFTs easier through the Niftyswap marketplace. SFTs are fungible and nonfungible tokens. When they lose their value and become nonfungible, they lose their fungibility. ERC-1155 was co-created by Horizon’s team to create a fungible token standard.

Coral, a Solana tech developer, raised $20 million and plans to release an ‘xNFT’ protocol, according to a news release.

The number of unique addresses used to interact with smart contracts on blockchain games grew by 7 percent in September, DappRadar data showed. All five top-rated games posted positive results in that month.