Despite the decline in the crypto market, the GameFi sector remains a leading force in the blockchain and crypto space. The latest numbers from Dapradar reveal that Web3 Games and Metaverse projects raised $748 million in funding last month. This is a 135% increase from July but still a 16% decrease compared to June.
The blockchain game raised $3.1 billion in investment last quarter. So far, it has raised $6.9 billion in funding through 2022. This year’s forecast seems to indicate that investments could reach $10.2 billion – a 20 percent increase from $4 billion in 2021. The figures suggest investors remain bullish on GameFi amid uncertain market conditions.
“Looking at the whole picture, we see that 38% of the investment goes to infrastructure, 33% to games and various projects and 27% to investment companies,” the report said.
More than 50% of the industry usage is still in blockchain games, although it is down 11% from last month, to an average of 847,000 daily unique active wallets (UAW).
In August, the total transaction volume related to games increased by 13.25%, and sales increased by 83.36% from 1.3 million Invincible tokens traded. A recent ChainPlay survey found that 75% of GameFi investors have joined the crypto space solely for gaming projects, while 81% are putting more positive experiences into gaming than just making a profit.
Sales of Metaverse projects rose 38.62% to 19,354 for the month, while turnover fell 28.90% to $22 million. Among the protocols, the trading volume of Ethereum decreased by 14.40% in August, bringing it to 11 million dollars. Meanwhile, Solana increased 171% to $1.7 million, and Ronin increased 27.64% to $8.2 million in total trading volume.