Blockchain gaming sees $2.3B in investments year-to-date: Report

Blockchain gaming tasks have seen $2.3 billion in financial investments in 2023, with the third quarter getting $600 million regardless of crypto market value seemingly being in a bearish mood all year. According to a report from the decentralized applications (DApp) tracking platform DappRadar, the first quarter of 2023 netted $739 million in financial investments, while the second and 3rd quarters saw $973 million and $600 million, respectively. This shows that the blockchain gaming sector brought in an overall of $2.3 billion in investments in the very first 3 quarters of 2023. Investments in blockchain video gaming projects by quarter. Source: DappRadarAmong the financial investments in the 3rd quarter of 2023, $213 million went to the development of metaverse-related games and innovation in spite of some stating the metaverse dead. The remainder of the investments seen in the quarter went to Web3 video gaming facilities and financial investment companies, according to DappRadar. Related: Neal Stephensons blockchain job holds discovery month as metaverse buzz wanesWhile financial investments in the area show that stakeholders still acknowledge the capacity in the blockchain gaming space, the quantity invested into Web3 gaming this year is much lower than in 2022. DappRadar analysts highlighted that the quantity invested this year is only “30% of last years fundraising activity.” The 3rd quarter of 2022 drew $1.2 billion in financial investments in blockchain video gaming, but the 3rd quarter of 2023 tape-recorded about 50% less, marking a significant decline in investment in the space. Publication: Web3 Gamer: Zuckerbergs metaverse losses, NFT game on Discord, Gods Unchained hot take