Home CryptocurrencyAltcoin GameFi fundraising jumps 135% in August, but still down from June: Report

GameFi fundraising jumps 135% in August, but still down from June: Report

by SuperiorInvest

The GameFi sector remains a leading force in the blockchain and crypto space despite the continued decline of the crypto market. Latest numbers from DappRadar exposed that Web3 games and Metaverse projects raised $748 million in funding last month. That was up 135% from July, but still down 16% from June.

Blockchain gaming took in $3.1 billion in investment last quarter; so far in 2022 it has added $6.9 billion in funds. This year’s forecast appears to indicate that investment could reach $10.2 billion — up 20% from $4 billion in 2021. The numbers suggest investors remain bullish on GameFi, despite uncertain market conditions.

“Looking at the big picture, we found that 38% of investments go into infrastructure, 33% into games and metaverse projects, and 27% into investment firms,” ​​the report said.

Over 50% of the industry usage is still in blockchain gamesdespite an 11% drop from last month to an average of 847,000 daily unique active wallets (UAW).

On the non-fungible token, or NFT, side, total game-related trading volume increased 13.25% in August, with sales jumping 83.36% to over 1.3 million non-fungible tokens traded. Recent A survey by ChainPlay found that 75% of GameFi investors entered the crypto space solely for gaming projects, and 81% prioritize positive gaming experiences over profit.

Metaverse projects revenue rose 38.62% month-on-month to 19,354, while trading fell 28.90% to $22 million. Between protocols, Ethereum trading volume plunged 14.40% in August to $11 million. Meanwhile, Solana’s grew 171% to $1.7 million, and Ronin’s total business rose 27.64% to $8.2 million.

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