Web3 Games And Metaverse Projects Generated $748 Million In August: DappRadar Report
Manjul Mishra - Today NFT News
- Gabriel Leydon, Founder of Machine Zone, is among the major investors with $200 million.
- Temasek, Singaporean investment company, led the recent round of funding for Animoca Brandsmoca Brands worth $100 million.
- The huge investments show that key investment entities are still dominating the GameFi industry.
According to a DappRadar report, $748 million has been raised by metaverse projects and web3-based games since August1, 2022. 847,000 daily UAW or Unique Active Wallets engaged with blockchain games during the previous month, which was a decline by 11% as compared to July.
Axie Infinity, a very popular game, crossed $4 billion in all-time non-fungible tokens sales. Also, 36,000 extra people associated like everyday players in the last three months.
DappRadar disclosed that companies in blockchain and metaverse had distributed over $750 million since August’s beginning, which shows an increase by 135% from July; however, a decline by 16% from June.
Immutable, an Australian NFT scaling platform, raised $500 million in June to help developers who create blockchain-dependent games as well as NFT startups. The platform believes that web3 services will turn out to be the leading feature in the upcoming digital asset industry.
Axie Infinity crossed $4 billion; whereas, Xterio earned a $40 million fundraiser and has plans to use it in mobile web3 games.
In terms of overall investments in blockchain for the year 2021, it was $4 billion. The number has already exceeded this year since the investment as of now is over $7 billion. If the same continues, the number will reach $10.2 billion by this year’s end.
In its statement, DappRadar stated:
The amount of investments demonstrates that despite the challenging and uncertain conditions in the digital asset markets, major investment entities remain bullish on the GameFi industry.
The analysis also concluded that blockchain gaming has potential though it is a young field. It is developing and inventing and its advancements are seen by those who belong to it.
During the end of July, the company determined that metaverse projects and blockchain games are doing great despite the crypto winter.
Skirmantas Januskas, DappRadar’s CEO, said that blockchain gaming will be the key in the coming two-three years and will attract at least 100 million new users in the world of crypto owing to the fact that they connect DeFi and NFTs. Together, blockchain gaming, DeFi and NFTs will lead to something not just new but exciting.
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