The investment capital raised represents for about 10% of the gaming industry’s total investment this year.
According to a report published on July 30 by gaming venture capital data aggregator InvestGame, twenty-four blockchain gaming startups raised $476 million in the first half of this year.
Blockchain gaming businesses accounted for 5% of deals announced and finalised in the first half of this year, and 9% of the industry’s $50.2 billion funded over the same period. Only three firms raised 75% of the $476 million.
Forte, a blockchain infrastructure firm based in San Francisco, raised $185 million in a round led by Griffin Gaming Partners for its crypto gaming platform, while Animoca, the developer and publisher of The Sandbox, raised $88,888,888 in a round led by Kingsway Capital.
Mythical Games, a Los Angeles-based business best known for the sandbox multiplayer game Blankos Block Party, raised $75 million, the majority of it from Westcap.
Blockchain gaming is currently a specialised and pricey segment of the industry. For casual gamers, entry barriers are frequently rather high in terms of economics and technology.
To begin playing the viral Pokémon-inspired Axie Infinity, entrants must either purchase expensive NFTs or bet money in Aavegotchi in order to develop rare NFTs.
The value of the blockchain gaming tokens associated with these projects frequently moves in lockstep; tokens such as AXS, MANA, SAND, and ENJ surge and crash in lockstep.
While it is still early in the game, given that blockchain gaming accounted for 9% of total gaming investment value in the first half of the year, there may still be plenty of room for growth.
