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Web3 Games and Metaverse Project Raise $748M in August (Report)

Web3-based games and Metaverse projects have raised $748 million since August 1, 2022, according to a report by data acquisition and analytics firm DappRadar. Last month, an average of 847,000 unique active wallets (UAWs) per day interacted with the blockchain, an 11% drop compared to July.

One of the most popular games in the space – Axie Infinity – has historically sold over $4 billion in NFTs, while approximately 36,000 players have joined every day for the past three months.

‘The blockchain game has not lost its mystique’

Despite the continued downturn in the market, blockchain-based games remain interest. DappRadar revealed that companies and Metaverse projects in the space have allocated around $750 million since the beginning of August. Compared to July, the figure was up 135%, but still down 16% from June’s figure.

One of the largest investments ($200 million) came from Machine Zone founder Gabriel Leydon. His mobile game studio is behind Game of War and Mobile Strike.

Singapore-based investment firm Temasek has led the latest $100 million funding round for Animoca Brands, aiming to further grow its NFT expansion platform in

Australia – Immutable on 6 Raised $500 million in March to support the development of blockchain-based games and NFT startups, believing that Web3 services will be the leading feature of digital in the future

On its own, another player in the field The popular company – Axie Infinity – has surpassed $4 billion in NFT sales, while Xterio has raised $40 million to invest in mobile Web3 games.

The total investment in blockchain games in 2021 is $4 billion. This number has already been surpassed in 2022, as the current investment is around $7 billion. If this pace is maintained, the figure is expected to soar to $10.2 billion by the end of 2022.

DappRadar said that in the case of the digital asset market, major investment entities remain bullish on the GameFi industry. A young industry full of potential. The field is “evolving and inventing,” and those involved see these advances.

“Blockchain gaming, the latest addition to a still young field, has not lost its mystique. Many people still don’t realize its importance , the changing gaming ecosystem offers little help,” the report concluded.

Previous research by DappRadar

At the end of July this year, the company identified blockchain games and Metaverse projects Seems to have weathered the crypto winter better than any other sector of the industry. DappRadar’s CEO – Skirmantas Januskas – commented at the time:

“We think blockchain gaming will be key in the next two or three years, and Will bring at least 100 million new users into the crypto space for the simple reason that they connect NFTs and DeFi. Combine all three of blockchain gaming, NFTs and DeFi and you’re going to see some really exciting new things.”

The report states that Unique Active Wallets (UAW) declined 7% in the second quarter compared to the previous quarter. This suggests that individuals continue to interact with blockchain DApps at almost the same rate as before Terra crashed.

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