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- Web3 gaming continues to be a driving force for the dapp industry amid crypto downtown.
- DappRadar Q3 report suggests $1.3 billion were raised by blockchain games and Metaverse projects.
DappRadar Q3 Report
In the Q3 2022 report, DappRadar, the data acquisition and analytic firm, accounted gaming activity for around half of all blockchain activity across 50 networks with 912,000 daily Unique Active Wallets (UAW.) It also interacted with the smart contracts of blockchain games in September 2022.
The DappRadar report states that the current downtrend in the crypto market impacts the partnerships and investments in blockchain gaming. In September the Web3 gaming and metaverse projects generated just $156 Million, as the investors added $1.3 billion into the blockchain gaming business. This noted a decrease of 48% as compared to the second quarter, Q2 report.
However, the report further suggests that if the Q3 report goes through the lowest level of investments, it proves that the industry never stops expanding and also the new key-players are entering in the market.
Metaverse Projects and Fundings
Hadean, a London-based deep technology startup, received $30 million in financing in September to develop its Metaverse infrastructure platform. It developed essential Metaverse components and struck multi-year partnerships with entertainment (Minecraft, Pixelynx, Sony, and Gamescoin), education, and business digital twin service providers.
It must be noted that the new round of investment will speed up Hadean’s capacity to equip producers in new and developing Metaverse marketplaces with the means to transform every element.
It can be seen that the outlooks throughout the total amount of investments for year 2022 into the metaverse industry noted a decrease by 8.8% to $9.25 Billion, as compared to previous quarter project prediction.
While, the invested amount shows that in between the harsh and uncertain market conditions in the crypto world, most of the investment entities remain optimistic on the blockchain gaming industry.
Key Points to be Noted
- According to the report, Gameta, the new Web3 gaming platform on BNB Chain, became the most used dapp in September.
- Gameta exceeded PancakeSwap, with over 1.33 million unique wallets in the past 30 days.
- In September, Benji Bananas, a game produced by Animoca Brands, rose in Unique Active Wallets by over 2,400% from the previous month.
- Two NFT based online games, Blankos Block Party and Star Atlas, became the first Web3 titles to be released on the major PC gaming marketplace Epic Games Store.
- The Sandbox Alpha Season 3 noted more than 90 experiences, with 4 Million people registered with a wallet, and more than 200,000 daily active users.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
