Web3 games and Metaverse projects raised $748 million

  • Temasek, Xterio raised around $750 million in blockchain gaming
  • 847,000 unique active wallets interacted with blockchain games daily
  • It showed a drop of 11% compared to July

According to a report by intelligence gathering and auditing organization DappRadar, Web3-based games and Metaverse projects have raised $748 million since August 1, 2022.

Broadly speaking, 847,000 dynamic wallets cooperated with blockchain games every day, down 11% from July.

Perhaps the most well-known game in this space – Axie Endlessness – surpassed $4 billion in NFT deals all-time, while adding approximately 36,000 additional people as daily players over the last 90 days.

Blockchain gaming has not lost its secret yet

Regardless of the ongoing market slump, blockchain-based games continue to generate revenue. DappRadar revealed that organizations in this space and Metaverse projects had distributed around $750 million since early August.

That’s up 135% from July, but down 16% from June’s numbers.

Perhaps the biggest speculation came from Gabriel Leydon – organizer behind Machine Zone. His eclectic gaming studio is behind Round of War and Portable Strike.

Singaporean speculation organization – Temasek – has advanced the latest $100 million funding round for Animoca Brands to further increase its openness in the region.

Australia’s NFT scaling stage – Changeless, which raised $500 million in June to help designers launch blockchain-based games and new NFT companies, accepts that Web3 administrations will later become the main component of the computerized resource industry.

Referring to another well-known organization in the field – Axie Endlessness – NFT deals all-time exceeded $4 billion, while Xterio received a $40 million fundraiser that will put resources into diverse Web3 games.

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DappRadar’s past recap

Total participation in blockchain games in 2021 surged to $4 billion. That number was proactively surpassed in 2022 as ventures currently total about $7 billion. Assuming the pace continues, the assumptions are that the number will increase to $10.2 billion by the end of 2022.

Towards the end of July this year, the company found that blockchain games and metaverse projects appear to be adapting better to the crypto winter than other industry fragments.

The report informed that exceptional dynamic wallets fell by 7% in the second quarter as opposed to the previous quarter. This showed that people have continued to connect to decentralized blockchain applications at practically a similar rate as before the collapse of Terra.

Nancy J Allen
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