Blockchain gaming has witnessed an influx of $2.3 billion in investments during the current year, according to a recent report. Additionally, according to DappRadar, a decentralized app tracking platform, Q3 2023 saw a $600 million influx into blockchain gaming.
Furthermore, In the year 2023, blockchain gaming projects amassed an impressive $2.3 billion in investments. This occurred despite the prevailing bearish sentiment in the crypto market. According to the report from DappRadar, the first quarter of 2023 alone attracted investments totaling $739 million.
The subsequent quarters of the year saw $973 million and $600 million investments, respectively. Collectively, these figures demonstrate that the blockchain gaming sector has successfully attracted a grand total of $2.3 billion in investments during the initial three quarters of 2023.
Blockchain Gaming Investments Decline in Q3 2023, While Metaverse Sees a Boost
Moreover, during the third quarter of 2023, a significant $213 million was earmarked for the development of metaverse-related games and technology. This is especially noteworthy, given that some had prematurely declared the metaverse’s demise.
The remaining portion of investments during this quarter was allocated to Web3 gaming infrastructure and investment firms, as detailed by DappRadar.
These investments underscore blockchain gaming’s potential, but Web3 gaming funding in 2023 significantly trails 2022. Analysts at DappRadar emphasized that this year’s investments represent just “30% of the fundraising efforts from the previous year.”
In stark contrast to the third quarter of 2022, which raked in an astounding $1.2 billion for the gaming sector, the third quarter of 2023 displayed a notable decline, tallying approximately 50% less in investments, indicative of a substantial downturn in financial support for this sphere.
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