{"id":68077,"date":"2022-10-04T16:38:33","date_gmt":"2022-10-04T13:38:33","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68077"},"modified":"2025-09-07T12:05:28","modified_gmt":"2025-09-07T09:05:28","slug":"skyweaver-blockchain-game-developer-raises-40-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/skyweaver-blockchain-game-developer-raises-40-million\/","title":{"rendered":"Skyweaver blockchain-game developer raises $40 million"},"content":{"rendered":"<p>Canadian gaming NFT company Horizon Blockchain Games raised $40 million in a Series A round. It was led by Brevan Howard Digital and Morgan Creek Digital, reports <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-04\/blockchain-gaming-startup-horizon-raises-40-million-in-funding-round?cmpid=socialflow-twitter-business\">Bloomberg<\/a>.<\/p>\n<p>Traditional video-game publishers Ubisoft Entertainment SA and Take-Two Interactive Software also participated in the round.<\/p>\n<p>Horizon&#8217;s chief financial officer Debora Marfur declined to disclose the company&#8217;s valuation to the publication. The firm&#8217;s value rose compared with the funding round last year, she said. At that time investors valued Horizon at $89.5 million.<\/p>\n<p>The funds will be used to further develop three core products:<\/p>\n<ul class=\"wp-block-list\">\n<li>Skyweaver NFT-card-based games;<\/li>\n<li>Sequence developer platform;<\/li>\n<li>Niftyswap digital-asset marketplace.<\/li>\n<\/ul>\n<p>Despite the bear market and the trend toward <a href=\"https:\/\/u1f987.com\/en\/news\/nft-marketplace-opensea-to-lay-off-20-of-its-staff\">staff reductions<\/a> in the industry, Horizon plans to expand its team from 60 to 80 people by the end of the year.<\/p>\n<p>In Skyweaver, players own and battle traded fantasy cards as NFTs, explained co-founder and CEO Peter Keltyka. He acknowledged that the use of blockchain in gaming <a href=\"https:\/\/u1f987.com\/en\/news\/platinumgames-sees-no-benefit-in-nfts-for-gamers-or-developers\">faces a mixed reception<\/a>. The criticism is mainly related to environmental concerns, but <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-activates-the-merge-blockchain-shifts-to-pos\">Ethereum&#8217;s transition to the Proof-of-Stake algorithm<\/a> should help mitigate it, Keltyka says.<\/p>\n<p>In his view, broad NFT launches via sales, known as \u201cdrops\u201d, have also fueled the sector&#8217;s negative sentiment. Such actions have given the impression that most participants come to the space to make a quick buck, Keltyka noted.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThere is definitely a gold rush, and not all market participants are truly building products with long-term intentions,\u201d he stressed.<\/p>\n<\/blockquote>\n<p>Earlier in May, Morgan Stanley analysts noted that the number of venture deals in the crypto industry <a href=\"https:\/\/u1f987.com\/en\/news\/morgan-stanley-crypto-venture-capital-activity-remains-high\">remains high<\/a>, despite the deep market correction. Investors prefer gaming and NFT projects.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian gaming NFT company Horizon Blockchain Games raised $40 million in a Series A round. It was led by Brevan Howard Digital and Morgan Creek Digital, Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":68078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1155,1213,1133],"class_list":["post-68077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-games-and-gamefi","tag-nft","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68077"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68077\/revisions"}],"predecessor-version":[{"id":68079,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68077\/revisions\/68079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68078"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}