Blockchain Gaming Gets a Boost from Big Investors
Since the beginning of August, companies such as Temasek and Xterio have invested approximately $750 million in blockchain gaming and Metaverse startup companies.
It is clear that blockchain games and Metaverse projects are becoming increasingly popular, with more and more people investing in them. However, it is also clear that there is still some way to go before they become mainstream. Nevertheless, the trend is definitely positive and it is exciting to see what the future holds for these innovative projects.
As the popularity of non-fungible tokens (NFTs) continues to grow, Axie Infinity has become one of the most successful games in the space. In the past three months, the game has seen a surge in popularity, with 36,000 new players joining daily. This has resulted in a total of $4 billion in all-time NFT sales.
Blockchain gaming is still shrouded in mystery, but that hasn't stopped players from enjoying it.
Despite the current market conditions, blockchain-based games continue to be popular among gamers and developers alike. According to DappRadar, companies in the field have distributed around $750 million since the beginning of August, a 135% increase from July. However, this figure is still 16% lower than what was seen in June. With the continued interest and investment in the sector, it is clear that blockchain-based games are here to stay.
Gabriel Leydon's $200 million investment is a vote of confidence in the future of mobile gaming. His studio, Machine Zone, is behind some of the most popular mobile games in the world, including Game of War and Mobile Strike. With this kind of backing, the sky is the limit for the future of mobile gaming.
The investment by Temasek is a vote of confidence in Animoca Brands and its position in the sector. This additional funding will help the company to continue to grow and expand its reach.
The future of the digital asset industry looks bright, with Web3 services set to become a leading feature. Immutable, a scaling platform for NFTs, is at the forefront of this trend, having raised $500 million to support developers building blockchain-based games and NFT startups. With Immutable leading the way, the digital asset industry is poised for big things in the future.
As the popularity of NFTs continues to grow, so does the amount of money being invested in them. Axie Infinity and Xterio are two companies that have seen a lot of success in the NFT space, and they are only going to continue to grow in the coming years.
With blockchain games already seeing such a large influx of investment in just the past year, it is safe to say that this trend is here to stay. And with projections indicating that the total amount invested in blockchain games could reach as high as $10 billion by the end of next year, it is clear that this burgeoning industry is only going to continue to grow in the years to come. So whatever your interest in games may be, it is definitely worth keeping an eye on the blockchain gaming space in the months and years to come.
“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,” DappRadar stated.
Blockchain gaming is still a young sector with a lot of potential. It is constantly developing and inventing new things, and those who are part of it see these advancements. They believe that this sector has a lot of potential and will continue to grow.
“Blockchain gaming, the newest addition to a still young sector, has not yet lost its mystery. Many are still unaware of its significance, and the ever-changing gaming ecosystem provides little assistance,” the report concluded.
DappRadar's Previous Study: Engaging Results
This is good news for the blockchain gaming industry, which has been struggling in recent months. The firm's determination that blockchain games and Metaverse projects are doing better than other industry segments is a positive sign for the future of the industry. With the right support and development, the blockchain gaming industry has the potential to thrive in the coming years.
“We think that blockchain gaming is going to be key in the next two or three years and is going to bring at least 100 million new users into crypto for one simple reason, they connect NFTs and DeFi. With all three combined, blockchain gaming, NFTs and DeFi, you will see something genuinely new and exciting.”
The report confirmed what many in the blockchain community had suspected – that the number of unique active wallets (UAWs) declined by 7% in Q2 compared to the previous quarter. However, it also showed that individuals continued to interact with blockchain decentralized applications at almost the same rate as before the Terra collapse. This indicates that the blockchain community is still strong and growing, despite any setbacks.
The post Web3 Games and Metaverse Projects Raised $748 Million in August (Report) appeared first on CryptoPotato. This is great news for the crypto gaming industry! Web3 games and metaverse projects raised a whopping $748 million in August, according to a new report.
