Key Takeaways
- • Brevan Howard Digital and Morgan Creek Digital led a $40 million Series A funding round into Horizon Blockchain Games, a Toronto-based web3 gaming studio founded in 2017.
- • Horizon will deploy capital to expand Sequence, its developer platform and smart wallet for building web3 games; scale Skyweaver, its NFT fantasy trading card game; and launch Niftyswap, a semi-fungible token (SFT) marketplace.
- • Traditional gaming giants Ubisoft and Take-Two Interactive participated alongside venture firms including Initialized Capital, BITKRAFT Ventures, and CMT Digital, plus notable individual investors such as Shopify CEO Tobias Lütke and Axie Infinity co-founder Aleks Larsen.
- • Horizon's valuation post-round exceeded its previous July 2025 valuation of $89.5 million, though the company declined to disclose the new figure, signaling investor confidence despite headwinds in the broader crypto and NFT sectors.
- • The deal demonstrates sustained institutional appetite for blockchain gaming infrastructure despite an 85% decline in global monthly NFT sales year-over-year, positioning Horizon's developer platform and marketplace as strategic assets in the web3 ecosystem.
Summary
Horizon Blockchain Games, the creator of the popular blockchain-based fantasy trading card game Skyweaver, has secured $40 million in Series A funding led by the digital asset divisions of Brevan Howard and Morgan Creek, two established players in crypto and alternative investments. The round also attracted participation from major traditional gaming publishers—Ubisoft Entertainment and Take-Two Interactive Software—alongside venture capital firms including Initialized Capital, BITKRAFT Ventures, and CMT Digital. The breadth of the investor base signals meaningful institutional validation for web3 gaming infrastructure despite ongoing volatility in the digital collectibles market.
Horizon plans to deploy the capital across three core initiatives. First, the company will expand Sequence, its all-in-one developer platform and smart wallet designed to simplify the creation of web3 games and applications. Second, Horizon will accelerate content development and community expansion for Skyweaver, its existing flagship title. Third, the startup will launch Niftyswap, a decentralized marketplace focused on semi-fungible token (SFT) trading, extending its infrastructure offerings beyond traditional NFTs. According to CEO Peter Kieltyka, the funding enables Horizon to attract builders to its platform through marketing, community, and partnership initiatives while maintaining a long-term vision for web3 adoption.
The funding round drew participation from high-profile individual investors, including Shopify CEO Tobias Lütke, The Sandbox co-founder Sebastien Borget, Axie Infinity co-founder Aleks Larsen, and Ethereum educator Anthony Sassano. While Horizon declined to disclose its post-round valuation, CFO Deborah Marfurt confirmed it exceeded the company's prior July 2025 valuation of $89.5 million, indicating meaningful growth in investor perception of the platform's value and market opportunity.
The investment arrives amid a challenging period for the broader NFT and gaming sector. Global monthly NFT sales declined 85% to $507 million in September compared to the prior year, and crypto venture capital funding has contracted significantly. Nevertheless, NFT and gaming startups accounted for 38% of seed and pre-Series A deals last month, suggesting capital continues to flow toward infrastructure and platforms rather than speculative digital assets. Horizon's funding round reflects investor focus on developer tools and sustainable gaming ecosystems rather than collectible speculation.
Horizon plans to deploy the capital across three core initiatives. First, the company will expand Sequence, its all-in-one developer platform and smart wallet designed to simplify the creation of web3 games and applications. Second, Horizon will accelerate content development and community expansion for Skyweaver, its existing flagship title. Third, the startup will launch Niftyswap, a decentralized marketplace focused on semi-fungible token (SFT) trading, extending its infrastructure offerings beyond traditional NFTs. According to CEO Peter Kieltyka, the funding enables Horizon to attract builders to its platform through marketing, community, and partnership initiatives while maintaining a long-term vision for web3 adoption.
The funding round drew participation from high-profile individual investors, including Shopify CEO Tobias Lütke, The Sandbox co-founder Sebastien Borget, Axie Infinity co-founder Aleks Larsen, and Ethereum educator Anthony Sassano. While Horizon declined to disclose its post-round valuation, CFO Deborah Marfurt confirmed it exceeded the company's prior July 2025 valuation of $89.5 million, indicating meaningful growth in investor perception of the platform's value and market opportunity.
The investment arrives amid a challenging period for the broader NFT and gaming sector. Global monthly NFT sales declined 85% to $507 million in September compared to the prior year, and crypto venture capital funding has contracted significantly. Nevertheless, NFT and gaming startups accounted for 38% of seed and pre-Series A deals last month, suggesting capital continues to flow toward infrastructure and platforms rather than speculative digital assets. Horizon's funding round reflects investor focus on developer tools and sustainable gaming ecosystems rather than collectible speculation.
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