Blockchain
Blockchain games brought in nearly $990 million in April alone, a new record
The blockchain gaming sector witnessed an unprecedented influx of investment capital in April, securing $988 million in funding.
While the first quarter of 2024 saw a cautious approach with a total of $288 million raised blockchain game startups, the start of the second quarter signaled a new shift in investor sentiment.
Second data According to data from DappRadar, April witnessed an “unprecedented capital influx” into the web3 gaming industry of $988 million, setting a new record since January 2021. DappRadar blockchain analyst Sara Gherghelas noted that l he April investment surge “has already surpassed the entire second quarter of 2023, which was the best-performing period of that year at $973 million.”
“This influx of capital comes at a critical time for the gaming industry, which has experienced significant turbulence, including 20,000 layoffs in the last eighteen months.”
Sara Gherghelas
Gherghelas highlighted that 89% of the funds went to investment companies, 7% supported infrastructure and 5% went to web3 games. A highlight of this wave of investment was the $600 million gaming fund launched by Andreessen Horowitz (a16z) as part of a larger $7.2 billion fundraising effort.
DappRadar highlighted that the latest fund continues “a16z’s commitment to the gaming industry, totaling $1.2 billion dedicated exclusively to gaming initiatives since its initial $600 million raise in May 2022.”
In the first quarter, the sector insured Funding of $288 million in the first quarter, a decrease of 57% compared to the fourth quarter of 2023. At the time, DappRadar said that the focus of such investments was largely on games and web3 infrastructure, highlighting a period of “building the foundations to enrich the web3 gaming ecosystem”. .”