Investors target ‘fun-first’ crypto games as funding jumps 94% in July
Web3 gaming funding steamed back as daily unique active wallets rose 2% to 4.9 million in July, in signs of a maturing industry.
Investments in Web3 gaming projects surged to $60 million in July, after a three-month lull, with investors focusing on games built around fun, according to blockchain analytics platform DappRadar.
March still had the highest month for Web3 gaming funding this year at $69 million, but after a slump in April, May and June, capital was flowing again “primarily to projects with proven teams, strong IP, or infrastructure supporting multiple games,” DappRadar analyst Sara Gherghelas said in a report published on Thursday.
However, smaller studios were suffering, and projects without traction or sustainable economies were closing or pivoting, according to Gherghelas.