Web3 Gaming Continues to Grow Despite Economic Struggles, Says Dappradar Report – Metaverse Bitcoin News

[ad_1]

According to a recent report produced by Dappradar, the Web3 gaming industry has managed to raise $750 million since August 1 despite the crypto downturn, with several major projects seeing positive sales and activity figures.

Web3 gaming industry thrives amid economic downturn

The current economic downturn affecting the traditional and cryptocurrency markets has had a lesser effect on the web3 gaming industry. According to a recent report published by Dappradar, the figures coming from this industry have been positive, resisting the effect of these variables.

The Web3 game industry has recorded investments of $748 million since August 1, which is 135% more than what was invested in July. However, this number is still 19% lower than what was invested in June, showing that the ecosystem is still recovering. These investments include $200 million raised by Gabriel Ledon for a new company called Limit Break and Temasek’s $100 million investment in Animoca Brands.

Total investment in the sector during the third quarter was calculated at $1.1 billion, with estimates putting total investment for all of 2022 at nearly $10 billion. This would more than double the $4 billion invested in 2021.


Activity and future of the sector

The report revealed that key projects in the Web3 games sector were in good health, with some figures showing positive developments. In the realm of the virtual world, while total sales fell 28.90% to $22 million, the number of sales jumped nearly 40% to 19,354, showing that there is still demand for the products offered by these projects.

The Sandbox, an Ethereum-based metaverse platform, launched its third season last month, offering more than 90 experiences from different sources, including The Walking Dead, Snoop Dogg, and the Smurfs. This resulted in a 40% increase in the number of active wallets on the platform.

According to the report, Stepn, one of the game industry’s pioneering move-to-win games, has maintained some popularity, with more than 3 million cumulative monthly users. Even with all of this activity, the report acknowledges that Web3 gaming is still in its infancy and the industry still has a “mystery” associated with it.

However, even with the low involvement of traditional gaming companies, the report believes that if this growth continues, the blockchain gaming field has a strong chance of becoming one of the biggest industries in the Web3 environment.

Keywords in this story

Animoca Brands, dapprardar, Gaming, Investments, limit break, Market Downturn, STEPN, Temasek, The Sandbox, Virtual Worlds, Web3

What do you think of the latest Web3 games report published by Dappradar? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, entering the cryptosphere when the price spike happened in December 2017. Having a background in computer engineering, living in Venezuela and impacted by the cryptocurrency boom at the social, it offers a different point of view. on the success of crypto and how it helps the unbanked and underserved.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



[ad_2]

Source link

Recent Articles

Terra Luna

Wolverine Coin

TABOO TOKEN

Crypto Heirloom

spot_img

Related Stories

Stay on op - Ge the daily news in your inbox

bitcoin
Bitcoin (BTC) $ 16,983.92
ethereum
Ethereum (ETH) $ 1,256.50
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 288.35
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.384078
dogecoin
Dogecoin (DOGE) $ 0.100496
cardano
Cardano (ADA) $ 0.31721
matic-network
Polygon (MATIC) $ 0.908275
polkadot
Polkadot (DOT) $ 5.46
staked-ether
Lido Staked Ether (STETH) $ 1,240.47
litecoin
Litecoin (LTC) $ 79.15
shiba-inu
Shiba Inu (SHIB) $ 0.000009
okb
OKB (OKB) $ 21.30
dai
Dai (DAI) $ 1.01
solana
Solana (SOL) $ 14.03
tron
TRON (TRX) $ 0.052801
uniswap
Uniswap (UNI) $ 6.10
avalanche-2
Avalanche (AVAX) $ 13.60
leo-token
LEO Token (LEO) $ 3.88
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,945.31
chainlink
Chainlink (LINK) $ 7.22
cosmos
Cosmos Hub (ATOM) $ 10.14
ethereum-classic
Ethereum Classic (ETC) $ 19.38
the-open-network
The Open Network (TON) $ 1.82
monero
Monero (XMR) $ 143.99
stellar
Stellar (XLM) $ 0.085903
bitcoin-cash
Bitcoin Cash (BCH) $ 111.17
quant-network
Quant (QNT) $ 123.30
crypto-com-chain
Cronos (CRO) $ 0.066839
algorand
Algorand (ALGO) $ 0.235252
filecoin
Filecoin (FIL) $ 4.52
apecoin
ApeCoin (APE) $ 4.12
near
NEAR Protocol (NEAR) $ 1.72
vechain
VeChain (VET) $ 0.019181
hedera-hashgraph
Hedera (HBAR) $ 0.048722
internet-computer
Internet Computer (ICP) $ 4.33
flow
Flow (FLOW) $ 1.10
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 43.65
terra-luna
Terra Luna Classic (LUNC) $ 0.000173
frax
Frax (FRAX) $ 1.00
eos
EOS (EOS) $ 0.932363
axie-infinity
Axie Infinity (AXS) $ 8.81
trust-wallet-token
Trust Wallet (TWT) $ 2.32
the-sandbox
The Sandbox (SAND) $ 0.608587
tezos
Tezos (XTZ) $ 1.01
aave
Aave (AAVE) $ 63.61
theta-token
Theta Network (THETA) $ 0.881997
huobi-token
Huobi (HT) $ 6.61
chiliz
Chiliz (CHZ) $ 0.161705
lido-dao
Lido DAO (LDO) $ 1.07
chain-2
Chain (XCN) $ 0.03945
true-usd
TrueUSD (TUSD) $ 0.999355
bitcoin-sv
Bitcoin SV (BSV) $ 41.64
paxos-standard
Pax Dollar (USDP) $ 0.999542
decentraland
Decentraland (MANA) $ 0.418771
usdd
USDD (USDD) $ 0.981416
aptos
Aptos (APT) $ 5.29
bittorrent
BitTorrent (BTT) $ 0.00000069820307
kucoin-shares
KuCoin (KCS) $ 6.57
fantom
Fantom (FTM) $ 0.248086
pancakeswap-token
PancakeSwap (CAKE) $ 3.95
zcash
Zcash (ZEC) $ 45.82
tokenize-xchange
Tokenize Xchange (TKX) $ 7.48
gemini-dollar
Gemini Dollar (GUSD) $ 1.00
iota
IOTA (MIOTA) $ 0.212538
whitebit
WhiteBIT Token (WBT) $ 4.82
maker
Maker (MKR) $ 635.41
compound-usd-coin
cUSDC (CUSDC) $ 0.022689
ecash
eCash (XEC) $ 0.00003
klay-token
Klaytn (KLAY) $ 0.185018
gatechain-token
Gate (GT) $ 3.64
dash
Dash (DASH) $ 46.15
neo
NEO (NEO) $ 6.98
arweave
Arweave (AR) $ 9.53
pax-gold
PAX Gold (PAXG) $ 1,775.82
the-graph
The Graph (GRT) $ 0.06448
osmosis
Osmosis (OSMO) $ 0.96492
havven
Synthetix Network (SNX) $ 1.92
compound-ether
cETH (CETH) $ 25.25
curve-dao-token
Curve DAO (CRV) $ 0.671048
mina-protocol
Mina Protocol (MINA) $ 0.571023
cdai
cDAI (CDAI) $ 0.022321
gmx
GMX (GMX) $ 51.14
tether-gold
Tether Gold (XAUT) $ 1,717.62
thorchain
THORChain (RUNE) $ 1.38
btse-token
BTSE Token (BTSE) $ 2.53
ethereum-pow-iou
EthereumPoW (ETHW) $ 3.76
rocket-pool
Rocket Pool (RPL) $ 19.93
frax-share
Frax Share (FXS) $ 5.21
nexo
NEXO (NEXO) $ 0.65975
ethereum-name-service
Ethereum Name Service (ENS) $ 13.91
blockstack
Stacks (STX) $ 0.262609
immutable-x
ImmutableX (IMX) $ 0.486322
basic-attention-token
Basic Attention (BAT) $ 0.232158
zilliqa
Zilliqa (ZIL) $ 0.022677
radix
Radix (XRD) $ 0.034117
1inch
1inch (1INCH) $ 0.481606
bitdao
BitDAO (BIT) $ 0.301649