The nascent blockchain gaming industry is still seeing substantial venture capital investment despite continued challenges in the broader crypto and gaming markets. Blockchain games received approximately $600 million in Q3 2023, according to a report released by crypto data firm DappRadar.

That mark is down 38% from the $973 million worth of crypto gaming investment that DappRadar tracked in Q2 2023. It puts the tally at roughly $2.3 billion in funding so far this year. While 2023 isn’t over yet, this $2.3 billion in funds so far is a mere 30% of what was raised across all of last year.

This year has been tough for game studios both in and outside of crypto. GamesIndustry.biz reported that over 6,100 jobs have been eliminated across the entire gaming industry in the past year. Firms like Epic Games, Telltale Games, and Team17 have laid off staff within the past month—and gaming-focused crypto companies like Star Atlas studio ATMTA and Otherside developer Go to Source to See Full Article
Author: Kate Irwin

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