Despite the overall crypto market slowdown, blockchain gaming continues to attract substantial venture capital investment, underscoring investor confidence in the sector’s potential.
According to Dapp Radar’s latest report, Web3 gaming projects raised $600 million in Q3 2022, bringing total funding so far this year to $2.3 billion. While only 30% of 2021’s record haul, this investment is notable given the challenging market dynamics.
Dapp Radar‘s research reveals Q1 2022 saw $739 million invested in blockchain gaming, with Q2 hitting $973 million. Highlights included a16z’s new $75 million Speedrun gaming accelerator focusing on pre-seed startups combining gaming and cutting-edge tech.
The report states that significant VC allocation this year signals investors’ bullishness on blockchain gaming and their “readiness” to bet on its growth.
Total 2022 investment remains down 50% versus Q3 2021, when blockchain gaming attracted $1.2 billion in funding. However, gaming still dominates the wider dApp ecosystem despite recent regulatory pressures.
Dapp Radar said the sector’s overall trajectory stays positive, but emphasizes that adaptability and foresight are vital given the ever-evolving dynamics.
While macroeconomic challenges have dampened speculative crypto investing, VCs seem undeterred in targeting blockchain gaming for long-term bets. The a16z Speedrun initiative underscores their focus on gaining exposure to emerging concepts and technologies.
The report suggests investors see strong fundamentals for blockchain gaming regardless of market cycles. The model of true digital asset ownership, play-to-earn features and interconnectivity across metaverses likely resonates as providingfuture value.
Despite decreasing investment totals, ongoing VC interest signals confidence that blockchain gaming will ultimately transform mainstream gaming. Dapp Radar believes this will require agility from projects to perfect models and ride out regulatory hurdles.
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