{"id":2372,"date":"2023-10-17T12:19:24","date_gmt":"2023-10-17T12:19:24","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/web3-gaming-continues-to-garner-investor-attention-despite-bear-market-heres-the-latest\/"},"modified":"2023-10-17T12:19:26","modified_gmt":"2023-10-17T12:19:26","slug":"web3-gaming-continues-to-garner-investor-attention-despite-bear-market-heres-the-latest","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=2372","title":{"rendered":"Web3 Gaming Continues to Garner Investor Attention Despite Bear Market \u2013 Here’s the Latest"},"content":{"rendered":"
\n

The recent Q3 2023 fundraising figure for Web3 gaming is certainly lower than the one seen in the previous quarter, but the overall situation is not that bad – investor attention is still there.\u00a0<\/p>\n

Crypto data firm DappRadar<\/strong> found that this year’s third quarter “may have seemed tranquil on the surface, [but] the undercurrents in the blockchain industry were palpably active.”\u00a0<\/p>\n

The report stated that,<\/p>\n

\n

“A notable trend was the fervent movement of Web2 giants making assertive strides into the Web3 realm.”<\/p>\n<\/blockquote>\n

Web3 gaming projects secured $600 million in Q3 2023, thus taking the total investments for 2023 to $2.3 billion, DappRadar found.<\/p>\n

The fact is, however, that this number constitutes 30% of the funds seen in 2022. That said, DappRadar argues that one must keep in mind the distinct market dynamics rising this year.<\/p>\n

It stated that,<\/p>\n

\n

“It’s evident that stakeholders see substantial potential in the space. However, the fact that this only represents 30% of last year\u2019s fundraising activity underscores the importance of considering external market conditions.”<\/p>\n<\/blockquote>\n

Major tech-focused VC firm A16z<\/strong> and its Speedrun<\/strong> accelerator have been mentioned as Q3’s highlight, aiming to invest up to $75 million into pre-seed startups that blend gaming and the latest tech.<\/p>\n

DappRadar further noted that this year’s funding trend shows a “significant allocation” towards investment firms, which received $125 million, or 20.8%. Game\/metaverse got $213 million (35.5%), and infrastructure $262 million (43.6%).<\/p>\n

The report argued that,<\/p>\n

\n

“This underscores the confidence and commitment VCs hold for the future of this domain, signaling their readiness to back the forthcoming Web3 gaming sensations.”<\/p>\n<\/blockquote>\n

The blockchain gaming sector kept its position at the top in the decentralized application (dapp) hierarchy in Q3, despite dips in momentum, the report said.\u00a0<\/p>\n

Not Great, But Not Bad<\/h2>\n

But what does the $600 million number mean? Is it high? Is it low? This is what the October 16 edition of the TechCrunch Equity Monday<\/i> podcast asked.<\/p>\n

Generally speaking, “gaming and crypto are distinct,” argued the host, Alex Wilhelm, Editor In Chief of TechCrunch+.\u00a0<\/p>\n

Many companies have raised large sums of money over the years to bring crypto to gaming, but the majority failed to reach mass audiences – though there have been exceptions, such as Axie Infinity<\/strong>.<\/p>\n

But what do the numbers say?\u00a0<\/p>\n

As the above image by DappRadar shows, the $600 million in Q3 is down from the $973 million that the Web3 projects raised in Q2 this year – but it is still close to the $654 million seen in Q4 2022.<\/p>\n

“It’s not great, but it’s also not insanely lower than prior totals. So investors are continuing to bet on the intersection of gaming and Web3,” Wilhelm commented.\u00a0<\/p>\n

It can be concluded that Web3 gaming companies saw a decline in the third quarter, but that it’s not an overall bearish situation.<\/p>\n

____<\/p>\n

Learn more:<\/h3>\n

– Animoca Brands Secures $20M Funding to Drive Ambitious Mocaverse Metaverse Project
– Gaming Titans FaZe Banks and Nadeshot Among Friend.tech’s Top Earners<\/p>\n

– South Korean Gaming Giant Netmarble Affiliate to List Coin on Japanese Exchange
– NFL and Mythical Games Unveil NFL Rivals: The First Web3-Powered NFL Game<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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