According to a recent report by Dapradar, the web3 game industry has managed to raise $750 million since August 1 despite the crypto crash, with several important projects recording positive numbers in terms of sales and activity.
The web3 gaming industry is thriving in the midst of an economic downturn.
The economic downturn affecting traditional and crypto markets has had a less significant impact on the Web3 gaming sector. According to a recent report by Dapradar, the numbers coming from this industry are positive, opposing the impact of these variables.
The Web3 gaming industry recorded $748 million in investments as of August 1, up 135% from July. However, this number is still 19% less than what was invested in June, indicating that the ecosystem is still recovering. These investments include $200 million raised by Gabriel Ledon for a new company called Limit Break and Temasek’s $100 million investment in Animoca Brands.
Total investment in the sector during Q3 was estimated at $1.1 billion, with total investment expected to reach $10 billion by 2022. This will invest more than $4 billion by 2021.
The movement and future of the sector
The report confirms that key projects in the Web3 gaming sector are healthy, with some numbers showing positive developments. In the Virtual World area, while total sales fell 28.90% to $22 million, sales rose 40% to 19,354, indicating that there is still demand for the products the projects offer.
Sandbox, the Ethereum-based Metaverse platform, released its third season last month, featuring more than 90 experiences from a variety of sources, including The Walking Dead, Snoop Dogg, and The Smurfs. This led to a 40% increase in the number of active wallets on the platform.
Step, one of the pioneers in the activity-tracking industry, has maintained its popularity to some extent, with more than 3 million cumulative monthly users, according to the report. Even with all this activity, the report admits that Web3 gaming is still in its infancy and the industry still has a “mystery” attached to it.
However, even with low participation from traditional gaming companies, the report believes that if this growth continues, the blockchain gaming space is likely to become one of the largest industries in the Web3 environment.
What do you think about the latest web3 game report by Dapradar? Tell us in the comments section below.
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