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Web3 Gaming Investments Reach $1 Billion in April 2024

20.05.2024
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In April 2024, investment in blockchain games reached $988 million, marking the highest level in the past three years. The number of daily unique active wallets (dUAW) in the GameFi sector hit a record 2.9 million.

Investors Poured $1B into GameFi Sector in April

According to a report by DappRadar and the Blockchain Gaming Alliance (BGA), investors poured $988 million into the development of the blockchain gaming sector in April 2024. This amount exceeds the total investments of the previous six months combined and represents a record since January 2021.

Analysts attribute the surge in investment to the growing interest of venture capital firms in the GameFi sector. The influx of capital followed a statement from a16z, announcing $600 million in additional funding for blockchain gaming companies. Besides, in April, Bitkraft Ventures, a global investment platform for gaming and media projects, secured $275 million for the sector’s development.

Analysts also noted that the increase in investment was accompanied by growing user interest in digital assets within Web3 games. The number of daily unique active wallets (dUAW) in the GameFi sector reached a record high of 2.9 million, accounting for more than 28% of dUAWs interacting with dApps.

The leading GameFi platform in April was sidechain Ronin, driven by game Pixels. The previous leader, Polygon, took second place thanks to blockchain games Matr1x and QORPO WORLD. Analysts also highlighted the growth of the Metaverse industry, with the trading volume of the Mocaverse NFT collection reaching $8.4 million in April.

The gaming segment of the Web3 industry saw significant growth in 2024, with the number of users steadily increasing throughout the year.

Сообщение Web3 Gaming Investments Reach $1 Billion in April 2024 появились сначала на CoinsPaid Media.

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Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

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