A new DappRadar report shows that the metaverse and blockchain gaming industry continue to thrive even as the broader crypto markets remain in the red.
According to the data acquisition and analysis firm, Web3 games and metaverse projects raised $1.3 billion in the third quarter of the year, compared to the $3.1 billion that the crypto segment received in Q2.
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The report says that September generated only $156 million, the least amount raised by Web3 games and metaverse-related projects for the whole year, but the total investments for the year already exceeded the $4 billion capital generated in 2021.
“Even though the investments in blockchain-based games and Metaverse projects declined in Q3 ($1.3 billion) compared to Q2, the capital raised by this segment has almost doubled last year’s total.”
Of the Q3 investments, 36% were funneled into projects like Inworld AI and Hadean that focus on building the infrastructure of Web3 games and the metaverse.
DappRadar says blockchain games serve as a driving force for the decentralized application (DApp) industry as the crypto winter persists.
“In Q3, gaming activity accounted for almost half of all blockchain activity tracked by DappRadar across 50 networks, with 912,000 daily Unique Active Wallets (UAW) interacting with games’ smart contracts in September.”
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