Reddit co-founder Alexis Ohanian has funded a new game studio that’s trying to make a blockchain-based card game to take on Magic: The Gathering and Hearthstone.
Horizon Games just announced that they received $3.75 million in seed funding from Initialized Capital, the venture capital firm founded by Reddit co-founder Alexis Ohanian, as well as several other venture capital firms such as Coinbase Ventures, Polychain Capital, Inovia Capital, and others.
That’s a lot of money, so you’d expect there to be a pretty convincing product at the end of it. Horizon is developing a card game called Skyweaver that uses blockchain technology to provide players with enhanced ownership of their digital cards.
Super proud that @Initialized led a $3.75 Million Round in @0xHorizonGames, creators of @SkyWeaverGame— Garry() (@garrytan) July 18, 2019
This is a Magic the Gathering style game with multiplayer and ownership of cards entirely decentralized. And it is hella fun. 👌 https://t.co/c9UG9eVffR
If you know about Bitcoin and other cryptocurrencies, then you know how blockchain works. Basically, a blockchain is a distributed ledger that keeps track of every transaction made. In the case of Skyweaver, it will keep track of who owns what cards and continues to keep track when cards are produced or traded.
Since every player has a copy of the blockchain on their machine and each trade verifies the blockchain before it happens, it’s extremely difficult to hack. However, it can lead to certain issues that would be undesirable for a card game. For example, it can take hours for a single Bitcoin transaction to be verified on its blockchain. This is because the ledger continues to grow over time, meaning that the blockchain will take up more processing power per transaction as the game persists.
The hope with blockchain technology is that processing and internet data transfer rates will continue to increase at the same rate as they always have, ensuring that verification of the blockchain doesn’t take too long.
As for the rest of Skyweaver’s offering, it seems like an interesting take on the digital card game genre. The game is playable via web browser on almost any device, or you can download the dedicated app to your mobile phone on Android or iOS. Instead of selling packs, Skyweaver sells single cards at a fixed price. Currently, there are 350 different cards in the game and cards can be earned through playing or by trading with other players.
Currently, Skyweaver is in closed beta, but Horizon hopes to release their game before the end of the year.