News

Blockchain Gaming Saw Nearly $1B Investments in April

Blockchain gaming investments reached $988 million in April, the highest amount since January 2021.

Blockchain Gaming Saw Nearly $1B Investments in April

DappRadar, along with the Blockchain Gaming Alliance, released its April blockchain gaming report on 17 May. The firms revealed that the blockchain gaming market saw an impressive $988 million in investments in April. This level of fund inflow was last seen in early 2021.

About 89% of the given funds were channelled towards investment firms offering gaming-focused funds, 7% of them supported infrastructure and 5% were directed towards Web3 games.

The impressive financial data is backed by a record 2.9 million daily unique active wallets that have engaged with gaming dApps. This daily unique active wallets (dUAW) number contributed to 28% of April’s total dApp industry 10.6 million dUAW activity.

The report attributes the recent market boost to several factors like renewed consumer interest in digital gaming tokens, play-to-airdrop token distribution and user acquisition campaigns fuelled through on-chain and social media activity, etc.

Among various blockchain platforms, Ronin had the most gaming activity with 792,230 dUAW, due to the popularity of the Pixels game. Polygon, now is in second place with its top games like Matr1x and QORPO WORLD. Solana and Klaytn also showed exceptional performance.

As for the main institutional facilitators of blockchain gaming investments, the report mentions a16z, a renowned VC firm that launched a substantial $600 million games fund as part of its larger $7.2 billion fundraising effort; as well as Bitkraft Ventures, which has successfully raised $275 million for its third fund aiming early-stage investments in gaming and interactive media companies.

In addition to blockchain gaming, the report illustrates the resurgence of metaverse interest. Among the top metaverse-related NFT collections, Mocaverse witnessed an impressive $8.4 million trading volume. The next closest NFT collection by trading volume was Farmland by Pixels which gained $1.48 million. Otherdeed by Otherside also saw $1.02 million in trading volume. The Sandbox also transitioned to mobile platforms, expanding its reach and accessibility.

We have also previously reported that blockchain technology has become one of the biggest drivers of the revolution of the iGaming industry, being massively adopted in this industry and causing an immediate impact.

Nina Bobro

1487 Posts 0 Comments

https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.