Blockchain gaming sees $2.3B in investments year-to-date: Report

Blockchain gaming tasks have seen $2.three billion in investments in 2023, with the third quarter getting $600 million regardless of crypto market costs seemingly being in a bearish temper all 12 months. 

In keeping with a report from the decentralized functions (DApp) monitoring platform DappRadar, the primary quarter of 2023 netted $739 million in investments, whereas the second and third quarters bought $973 million and $600 million, respectively. This reveals that the blockchain gaming sector attracted a complete of $2.three billion in investments within the first three quarters of 2023.

Among the many investments within the third quarter of 2023, $213 million went to the event of metaverse-related video games and know-how regardless of some declaring the metaverse to be useless. The remainder of the investments seen within the quarter went to Web3 gaming infrastructure and funding companies, in accordance with DappRadar. 

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Whereas investments within the area present that stakeholders nonetheless acknowledge the potential within the blockchain gaming area, the quantity invested into Web3 gaming this 12 months is rather a lot decrease in comparison with final 12 months. DappRadar analysts highlighted that the quantity invested this 12 months is just “30% of final 12 months’s fundraising exercise.”

As well as, in comparison with the third quarter of 2022, which drew $1.2 billion in investments in blockchain gaming, the third quarter of 2023 recorded about 50% much less within the quantity invested. Which means that whereas there are nonetheless funds coming into the area, it has gotten considerably decrease in comparison with the earlier 12 months. 

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