A new report from DappRadar shows that the metaverse and blockchain gaming industry are still doing well, even though the crypto markets as a whole are still in the red.
According to the company that collects and analyzes data, Web3 games and metaverse projects raised $1.3 billion in the third quarter of the year, while the crypto segment received $3.1 billion in Q2.
The report says that Web3 games and projects related to the metaverse only raised $156 million in September, which was the least amount for the whole year. However, the total investments for the year have already topped the $4 billion in capital raised in 2021.
Even though investments in blockchain-based games and Metaverse projects dropped in Q3 ($1.3 billion) compared to Q2, this segment has raised almost twice as much money as it did all of last year.
36% of the Q3 investments went to projects like Inworld AI and Hadean that focus on building the infrastructure of Web3 games and the metaverse.
As the crypto winter continues, DappRadar says that blockchain games are driving the decentralized application (DApp) industry.
Almost half of all blockchain activity tracked by DappRadar across 50 networks in Q3 was related to gaming. In September, 912,000 daily Unique Active Wallets (UAW) interacted with games’ smart contracts.
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