Blockchain game projects have achieved an investment of 2.3 billion USD in 2023, of which Q3 received 600 million USD despite the cryptocurrency market facing many difficulties.
According to a report from decentralized application (DApp) tracking platform DappRadar, Q1 2023 blockchain games brought in $739 million in investments, while Q2 and Q3 reached $973 million and $600 million, respectively.
Of the investments in Q3 2023, $213 million went into developing Metaverse-related games and technology despite some claiming that the Metaverse is dead. According to DappRadar, the remainder of the investment seen in the quarter belonged to Web3 gaming infrastructure and investment companies.
While investments in this space show that stakeholders still recognize the potential in the blockchain gaming space, the amount invested in Web3 gaming this year is much lower than in 2022. DappRadar analysts emphasized that this year’s investment amount is only “30% of last year”.
Q3 2022 attracted $1.2 billion in investment in blockchain gaming, but Q3 2023 recorded 50% less, marking a significant decline in investment in this space.
