According to DappRadar, blockchain gaming companies earned a hefty $2.3 billion in funding in 2023, bucking a sluggish cryptocurrency market.
With $739 million in the first quarter, $973 million in the second, and $600 million in the third, this investment was spread out over three quarters.
Even though some questioned the idea of the metaverse, $213 million was spent on games and technology related to it during the third quarter of 2023. Investment companies and Web3 gaming infrastructure received the third quarter’s remaining funding. It’s vital to remember that this year’s investment in Web3 gaming was just 30% of what it was in 2022, a significant decrease.
The blockchain gaming sector attracted $1.2 billion in investments in the third quarter of 2022, but this figure fell sharply to $50 million in 2023.
This decrease in blockchain gaming investment may indicate a change in market trends and industry goals. The key to its future success will continue to be its ability to adopt new ideas and technology, like the metaverse.
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