Enterprise financing for the blockchain trade remained sturdy within the third quarter, at the same time as bearish circumstances ravaged digital asset markets, an indication that enterprise capital companies have been targeted extra on the long-term worth proposition of the sector.
Blockchain video games and metaverse tasks raised a cumulative $1.3 billion in enterprise capital between July and September, according to DappRadar’s newest BGA Video games Report. Whereas this determine was down 48% in comparison with the second quarter, it was practically double the overall quantity raised in 2021.
DappRadar mentioned that tasks targeted on Web3 metaverse infrastructure accounted for over 36% of the quarterly investments.
Taking a look at blockchain gaming particularly, the report confirmed that underlying trade exercise was nonetheless rising regardless of the bear market. The variety of distinctive energetic wallets taking part in blockchain video games elevated by 8% month-over-month in September to 912,000. DappRadar mentioned that Web3 video games “proceed to be a driving power for the dapp trade,” accounting for nearly half of all blockchain activity throughout 50 networks tracked by the agency.
As reported by Cointelegraph, information from DappRadar confirmed that seven out of the highest 10 blockchain video games registered an increase in unique wallet addresses throughout September. The corporate famous that a lot of the high video games are mobile-first, a key function within the push for wider mainstream adoption.
Nevertheless, it might be some time nonetheless earlier than blockchain and Web3 video games pique the curiosity of informal avid gamers, based on a latest survey by blockchain leisure supplier Coda Labs. The survey discovered that solely 12% of non-crypto gamers have dabbled in Web3 games and simply 15% have been all in favour of doing so sooner or later.
However, Web3 tasks of all stripes have attracted vital curiosity from the enterprise capital neighborhood. In response to Cointelegraph Analysis, Web3 projects accounted for 42% of all individual funding deals within the second quarter and 7 of the highest ten most energetic VCs recognized Web3 as their high sector for funding.