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Web3 Gaming Continues to Garner Investor Attention Despite Bear Market – Here's the Latest

today 10/17/2023
Despite the bear market, investor attention in Web3 gaming continues to be significant. While the Q3 2023 fundraising figure for Web3 gaming is lower than the previous quarter, it is not necessarily a bad situation. DappRadar's report highlights the active undercurrents in the blockchain industry during this period. The report also reveals that Web3 gaming projects secured $600 million in Q3 2023, bringing the total investments for 2023 to $2.3 billion. However, it's important to note that this amount only represents 30% of the funds raised in 2022, emphasizing the need to consider external market conditions. The report also mentions that major VC firm A16z and its Speedrun accelerator have shown interest in investing up to $75 million in startups blending gaming and the latest technology. Additionally, the funding trend in 2023 shows a significant allocation towards investment firms, game/metaverse, and infrastructure. Despite dips in momentum, the blockchain gaming sector maintained its position at the top in the decentralized application hierarchy in Q3. The $600 million figure for Q3, while lower than previous quarters, indicates that investors are still confident in the intersection of gaming and Web3. Therefore, it can be concluded that Web3 gaming companies experienced a decline in the third quarter but not to the extent of a bearish situation.
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