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GameFi’s funding rose 135% in August, but is still down from June: report

The GameFi sector has maintained its leading position in the blockchain and cryptocurrency space despite the continued weakness of the cryptocurrency market. Recent figures from DappRadar revealed that the Web3 Games and Metaverse project had raised his $748 million in funding last month. This is his 135% increase from July, but his 16% decrease compared to June.

Blockchain games attracted $3.1 billion in investment last quarter. So far in 2022, it has added $6.9 billion in funding. This year’s forecasts seem to indicate that investments could reach his $10.2 billion. That’s up 20% from his $4 billion in 2021. The numbers suggest that investors remain bullish on GameFi despite uncertain market conditions.

“By looking at the big picture, we found that 38% of investment went to infrastructure, 33% to gaming and metaverse projects, and 27% to investment firms,” the report said.

Over 50% of industry usage is still in blockchain games, despite an 11% drop from last month, reaching an average of 847,000 unique active wallets (UAW) per day.

On the non-fungible token (NFT) side, total game-related trading volume increased by 13.25% in August, while sales increased by 83.36% with over 1.3 million non-fungible tokens traded. A recent ChainPlay survey found that he 75% of GameFi investors entered the crypto space solely for game projects, and 81% prioritize positive in-game experiences over profits.

Metaverse Project sales increased 38.62% month-on-month to 19,354 deals, while transaction value decreased 28.90% to $22 million. Among the protocols, Ethereum trading volume fell by 14.40% to $11 million in August. Meanwhile, Solana rose 171% to $1.7 million and Ronin rose 27.64% to $8.2 million.