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Blockchain Gaming Staying Warm During Crypto Winter

While much of the crypto space has been hurting of late, DappRadar’s recent report on the state of blockchain gaming shows that it has stayed quite resilient, even continuing to attract fresh investments. According to the report, during the second quarter of 2022, venture capital firms poured more than $2.5 billion into the blockchain gaming industry. In fact, investments in the sector have already surpassed last year’s total investments by 33%. It goes on to say that the market is currently on track to bring in more than $12 billion by the end of 2022.

DappRadar’s report discusses how even as the rest of the industry has struggled, blockchain games have taken the majority of unique active wallets. In Q2 2022, gaming DApps alone have accounted for 52% of the total global blockchain activity. It’s worth noting that in comparison to the previous quarter, unique active wallets of blockchain games dropped by 7%, but said activity is still up 232% in comparison to the same quarter in 2021.

Also noted in the report is how venture capitalist giant Andreesen Horowitz recently created a $4.5 billion fund to invest in the development of the blockchain gaming sector, another sign that Web3 has the potential to command a lot of the industry’s activity and investments.

DappRadar does note that apart from the wave of funds flowing into Web3 gaming, there’s also a strong flow of talent moving to Web3 start-ups, which it predicts will attract $12 billion in capital by the end of the year.

(All information was provided by Crypto News Flash)

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