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Reddit Co-Founder’s Firm Leads $5M Funding Round for Blockchain Game Studio


Reddit Co-Founder’s Firm Leads $5M Funding Round for Blockchain Game Studio

Funds will be used to launch Horizon’s first blockchain game SkyWalker, a card game featuring ERC-1155 in-game items

On March 7, Horizon Blockchain Games announced it has raised $5 million a fundraising round led by Initialized Capital — the investment firm co-founded by Reddit co-founder Alexis Ohanian. The raise comes ahead of the release for Horizon’s blockchain-based card game SkyWeaver.

In the blog post, Horizon Blockchain Games co-founder Peter Kieltyka stated that the funds will be used to deliver SkyWeaver — the company’s first game — to market.

The raise included contributions from new investors ConsenSys, Regah Ventures and CMT Digital, in addition to existing partners Polychain, Digital Currency Group and Polychain.

Kieltyka added that Horizon currently has a team of 24 full-time members.

SkyWeaver attracts 100,000 test players

Kieltyka states that the private beta launch of SkyWeaver currently has 12,000 test players, with over 90,000 more players waiting for access to the game.

He states that Horizon has been focused on balancing the game and improving the user interface, and testing their marketplace for card trading on the Ethereum testnet.

The private beta is currently hosting the SkyWeaver preseason, in which players will compete to earn rewards that can be used in-game, traded or sold.

The post adds that members of the project’s Discord will be able to receive early beta access. When launched, the free-to-play game will be supported by PC, Mac, iOS and Android.

ERC-1155 see increasing adoption for blockchain games

SkyWalker tokenizes cards as ERC-1155 tokens — a standard for non-fungible tokens (NFTs) issued on the Ethereum blockchain.

On March 1, the most-valuable ERC-1155 currently in existence was minted — comprising a homage to the long-running Doge meme. Titled “It’s good to be the King,” the NFT is backed by 1,155,777.1 Enjin (ENJ) and is valued at roughly $101,500 at press time.

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