Metaverse, Web3 games are doing better than you think

ambcrypto.com:

Web3-based games and Metaverse projects have raised $748 million since August 1, 2022, according to research by DappRadar. In August, 847,000 Unique Active Wallets (UAW) per day on average participated in blockchain games – An 11% decrease from July.

Axie Infinity, one of the most well-known games in the genre, has sold more than $4 billion in total NFTs. And, in the last three months, almost 36,000 more players have joined as daily players.

Despite the prevailing market gloom, interest in blockchain-based games continue to grow. Companies in the industry and Metaverse projects have given out roughly $750 million since the start of August, according to DappRadar. This represents a 135% increase from July, but a 16% decline from June’s figures.

The most recent $100 million funding round for Animoca Brands was headed by the Singaporean investment firm Temasek to boost the company’s exposure in the market.

Web3 services, according to the Australian NFT scaling platform Immutable, will take the lead in the future digital asset market. Immutable received $500 million in June to enable developers who create blockchain-based games and NFT startups.

In 2021, $4 billion was invested in blockchain gaming overall. By the end of 2022, it’s anticipated that the aforementioned amount would hike to $10.2 billion if the current pace continues.

“The amount of investments demonstrates that despite the challenging and uncertain conditions in the digital asset markets, major investment entities remain bullish on the GameFi industry,” DappRadar stated.

Over the past month, daily interactions with blockchain games averaged 847,000 unique active wallets. Even if the number indicates an 11% drop from the previous month, it still accounts for more than