Blockchain gaming initiatives have seen $2.3 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.
According to a report from the decentralized applications (DApp) monitoring platform DappRadar, the primary quarter of 2023 netted $739 million in investments, whereas the second and third quarters noticed $973 million and $600 million, respectively. This reveals that the blockchain gaming sector attracted a complete of $2.3 billion in investments in the primary three quarters of 2023.
Among the investments in 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 dead. The remainder of the investments seen in the quarter went to Web3 gaming infrastructure and funding corporations, in accordance with DappRadar.
While investments in the area present that stakeholders nonetheless acknowledge the potential in the blockchain gaming area, the quantity invested into Web3 gaming this 12 months is way decrease than in 2022. DappRadar analysts highlighted that the quantity invested this 12 months is simply “30% of last year’s fundraising activity.”
The third quarter of 2022 drew $1.2 billion in investments in blockchain gaming, however the third quarter of 2023 recorded about 50% much less, marking a big decline in funding in the area.