DappRadar analysts report a decline in investment in blockchain games and metaverse projects

Despite the decline, the figure is nearly double the amount invested for 2021

14.10.2022 - 08:15

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What’s new? According to the latest report from analyst firm DappRadar, for Q3 2022, blockchain games and metaverse projects raised a combined $1,3 billion in venture capital. While the figure is down 48% from the previous reporting period, it is almost double the amount raised in 2021. DappRadar notes that 36% of investments are in projects that focus on the infrastructure of the metaverse.

DappRadar report

What else does the report say? Analysts also note that blockchain gaming activity continues to grow despite the overall downturn in the cryptocurrency market. In September, the number of unique wallets associated with Web3games increased by 8% (to 912 000) compared to the previous month.

DappRadar said that blockchain games “continue to be a driving force for the dapp industry,” accounting for nearly half of all activity in the 50 blockchains tracked by the firm.

Earlier, Japanese video game developer and publisher Konami announced it was looking for specialists in Web 3.0, NFTs, and metaverse. The company intends to launch a blockchain platform for trading in-game NFTs.

At the end of September, the world's largest investment company, BlackRock , announced the launch of a new exchange fund with a focus on metaverse companies. And the largest US retail chain Walmart launched its own games — Walmart Land and Walmart's Universe of Play — in the Roblox metaverse.

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