CDS Crypto News Blockchain Gaming Industry Received Big Investment
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Blockchain Gaming Industry Received Big Investment

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In October And November, Investments Totaling $534 Million Were Made In The Blockchain Gaming Industry

According to a recent report, the Blockchain gaming industry is projected to receive more than $500 million in investments between October and November 2022.

In October and November, investments totaling $534 million were made in the blockchain gaming industry.

Investments Received and To Be Received in the Blockchain Gaming Industry According to the Report

The blockchain gaming industry received a total of $ 534 million in investments in October and November this year. According to the report maintained by the Web3 research company DappRadar, since June of this year, activity in the blockchain gaming sector, also known as the GameFi or Metaverse sector, has declined. But despite this, the industry has collected a staggering amount of money, which demonstrates its “resilience”.

The Games in Solana Lose Money

According to a report by DappRadar, blockchain games in November saw an average of 800,875 Unique Active Wallets (UAW) interacting with the smart contracts of various games.

When the report was examined, the Solana (SOL), which was used mostly for playing games, was the most damaged in November. Usage dropped by 89.4% to an average of 2,326 daily unique wallets.

On the other hand, it is said that the perception of the connections between Solana and FTX‘s founders Sam Bankman and Fried causes a decrease in activities in Solana. Overall, DappRadar‘s analysis made it clear that the FTX collapse had “very little” impact on the blockchain gaming industry.

In-Game NFT Market

Due to the widespread use of NFTs in games for various purposes, the NFT and blockchain gaming sectors are somewhat intertwined. Dappradar reported that the total trade volume for in-game NFTs in October and November was $ 55 million. The Gods Unchained NFT collection was by far the most widely used NFT collection in video games, accounting for 64.25% of the market in October and November.

Result

According to DappRadar, the FTX scenario in general has not helped the blockchain gaming industry, especially in light of the alleged links between Solana and Sam Bankman-Fried. Despite this, the sector continues to raise a staggering amount of money, having raised over $2 billion so far this year. In short, the research supports that the future of blockchain games is bright and that it is on its way to becoming the pioneer of Web3.

References

www.cryptonews.com

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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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