$1.3bn raised from blockchain games and Web 3.0 projects in Q3

Data from DappRadar shows blockchain gaming has caused an increase in unique wallet addresses during September.

Blockchain games and metaverse projects have raised $1.3bn in venture capital in Q3 2022.

Web 3.0 and metaverse products have reportedly accounted for more than 36% of the quarterly investments, according to DappRadar’s most current BGA Games Report.

Although the figures are down from this year’s second quarter, the amount overall nearly doubles the total raised in 2021, according to DappRadar.

Despite the current bear market, when looking specifically at blockchain gaming,  the report showed that underlying industry activity was growing.

An increase in the number of unique wallet activities found to play blockchain games increased by 8% month on month in September.

Web 3.0 games account for more than half of all blockchain activity across 50 networks tracked by DappRadar and “continue to be a driving force for the dapp industry”.

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Written by Isabella Aslam

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Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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