Brevan Howard Pours $40 Million Into Blockchain Gaming Startup

Morgan Creek Digital, Take-Two Interactive Software, Polygon, Ubisoft, Xsolla and others also participated in the round

article-image

Source: DALL·E

share

key takeaways

  • This investment comes soon after Brevan Howard raised $1 billion from institutional investors to invest in crypto startups
  • The latest fundraise will be used to scale Sequence, a developer platform and smart wallet designed for Web3 games

Horizon Blockchain Games, the creator of popular blockchain game Skyweaver, has raised a $40 million Series A led by Brevan Howard Digital and Morgan Creek Digital.

Other venture capital firms that participated in the round included Take-Two Interactive Software, Polygon, Ubisoft, Xsolla and others. Individual investors including Shopify CEO Tobias Lütke, The Sandbox’s co-founder Sebastien Borget, and Sky Mavis and Axie Infinity co-founder Aleks Larsen also invested in the fundraise.

This latest funding round will be used to scale Sequence, a developer platform and smart wallet designed for Web3 games to expand Skyweaver’s audience and introduce semi-fungible token (SFT) marketplace Niftyswap.

SFTs are an ERC-1155 token that is used in video games and metaverse assets. Horizon plans to soft launch Niftyswap to a group of testers before its public release later this fall. 

As of June 2022, 407,000 Skyweaver accounts had played over 4.8 million matches. The Sequence Wallet is said to have over 675,000 users, according to the company, and is integrated into a boxing NFT marketplace on Polygon from DAZN, a sports entertainment platform.

According to data from DAZN, 80% of its users were exposed to crypto and NFTs through the project for the first time, a fact that Deborah Marfurt, chief financial officer at Horizon, believes to be a great feat.

“The fact that we were significantly oversubscribed in this difficult and bearish market demonstrates the world-class expertise of our team, the excellence of our products, our collective Web3 vision, and the fundamentals of how we’re running this company,” Marfurt said.

Brevan Howard Asset Management has been extremely active in investments in the cryptocurrency space. The hedge fund raised over $1 billion from institutional investors in August and has recently invested in Injective, ​​a layer-1 blockchain network in the Cosmos ecosystem.

Colleen Sullivan, co-head of ventures at Brevan Howard Digital, said in a statement that the Sequence platform “has massive potential to unlock mainstream access for millions of games and applications.”

“We believe Horizon is poised to become the premier platform, wallet, and gaming company of the web3 generation,” Sullivan said.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (1).jpg

Research

Jupiter has emerged as the undisputed liquidity backbone of Solana, commanding over 90% of spot DEX aggregation and 80% of perp trading volume. But behind the numbers lies a far more ambitious play: a cross-chain, vertically integrated super-app spanning swaps, synthetics, NFTs, memecoins, and launchpads. This report explores Jupiter’s rapid rise, the monetization upgrades reshaping its revenue profile, and the risks that could unwind its dominance, from token dilution to competition. With annualized revenues nearing $300M, the upside is undeniable, if it can navigate the turbulence.

article-image

Immutable has been building a game with Ubisoft that was slated to unveil in April. It may be a TCG.

article-image

Curve founder Michael Egorov is working on a new protocol designed to eliminate impermanent loss, rethink token emissions, and capture BTC-native yield

article-image

Mining outfits have gone bust in the wake of prior halvings. Not so this time around.

article-image

Zora’s announcement that its token is for “fun only” sparked a debate about the need for such tokens

article-image

In recent weeks, Helium has hit new all-time highs while passing major protocol milestones

article-image

Financial advisers in a January survey said equity ETFs were their top choice for gaining crypto exposure in 2025