Metaverse & Crypto Games Have Raised $748M Since August

Despite the continued crypto winter, blockchain games and metaverse projects keep bagging investments from VC firms as the adoption increases.
Metaverse & Crypto Games Raise 8M Since August

Since the beginning of August, the Web3 space has secured over $748 million investment in funding rounds. It is a 135% increase when compared to what the space secured in July.

The space keeps getting investment from institutional investors as they remain bullish on the web3 gaming sector. Back in 2021, the blockchain gaming sector received a total of $4 billion. 

Fast forward to 2022, the space has already beaten the figure by receiving a total of $7 billion. At the end of 2022, the figure is expected to cross $10 billion. 

2022 has definitely been a great year for the gaming and metaverse industry. For example, Epic Games alone secured a $2 billion fund from Sony Group Corporation and KIRKBI in April.

Additionally, Animoca Brands secured $359 million in January 2022. 7 months later, in August, the company bagged an additional $100 million investment from Singapore-based Temasek to build an open metaverse. 

Australian NFT scaling platform Immutable also unveiled a whopping $500 million fund in June.

When it comes to how blockchain games perform in terms of active users, August has been great as over 847,000 daily Unique Active Wallets (UAW) interact with crypto games. 

The most active blockchain has been WAX. Even though it saw an 8% decrease in daily UAW, it is still the busiest blockchain right now. As a matter of fact, around 40% of the total blockchain gaming activity takes place on WAX.

The second place is Hive, which is home to Splinterlands. On average, it saw 169,043 daily UAW, which is a 12% increase when it comes to month-over-month increase (MoM). Solana also continues to grow, seeing a 21% rise in monthly activity. BNB Chain has also increased its monthly activity by 8% as the daily UAW has increased to 92,000.