Blockchain games are the future of our planet, metaverse is the promised land. These days, in a very, very long bear market, blockchain games still continue to attract capital. Now, the question remains, how did Zuckerberg manage to perform so bad with their metaverse development? On top of that, wouldn’t it be unwise to invest billion in Web3 when there is a Web5 available? These are the questions we will not answer in this article, but stick around for more metaverse jokes!
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Blockchain Games
A new report by DappRadar shows some interesting statistics coming from crypto industry. Generally speaking, crypto has been in a brutal slump in 2022 giving investors little to no motivation to chip in. For the most part, crypto has been overshadowed by global circumstances such as the Russia-Ukraine war and energy crisis. However, we can see that blockchain games and metaverse are luring investors, especially institutional ones.
According to the analytics firm, Web3 games and metaverse raised a total of $1.3 billion in Q3, 2022. This is down by a lot compare to last quarter when they had $3.1 billion. But, some would argue that the threat of an inevitable nuclear Armageddon and annihilation of life on planet can discourage institutions to chill out on their investments in video games. The money is less than half in 2023, but to be honest, this part of the industry is perhaps the best-performing sector by a mile.
The Report
Based on the report, the segment only had $156 million of inflows in September. This decrease in investment may foreshadow a reversal ahead with outflows. Looking at the big picture however, the total of $7 billion this year is far superior to the $4 billion last year. DappRadar is certainly looking at the full half of the glass.
“Even though the investments in blockchain-based games and Metaverse projects declined in Q3 ($1.3 billion) compared to Q2, the capital raised by this segment has almost doubled last year’s total.”
To be specific, 36% of investments went into Inworld AI and Hadean who focus on metaverse infrastructure.
Unlike what Saylor and Elon believe, we are in a crypto winter that has lasted over 9 months. DappRadar says blockchain games and metaverse are the primary sector carrying the crypto industry.
“In Q3, gaming activity accounted for almost half of all blockchain activity tracked by DappRadar across 50 networks, with 912,000 daily Unique Active Wallets (UAW) interacting with games’ smart contracts in September.”
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