New data has revealed a decline of 48% for blockchain games and metaverse project investments when comparing Q2 to Q3 2022. The information came from DappRadar’s Q3 Blockchain Games Report.
According to the report, investments fell from $3.1 billion in Q2 to $1.3 billion in Q3 2022. However, DappRadar states that despite the “harsh market conditions,” 912,000 daily UAWs were tracked on 50 networks. These numbers indicate an 8% growth in UAWs in September in month-over-month comparison.
Although the UAW numbers saw an increase, the amount of investments in September was the lowest of 2022, with $156 million. Games were determined to cover almost half (48%) of the blockchain ecosystem’s activity.
This data doesn’t necessarily drive the conclusion that things are going awry. Even though the investments are down, DappRadar shares that funding seen in 2022 ($7 billion) has almost doubled 2021’s total investment amount ($4 billion), and the year isn’t even over yet.
Experts state that the summertime is always a slowdown period for investments, as July and September of 2022 saw the lowest amount of funding announcements. May, however, led this year with over $1 billion.
The report contains extensive insight into the blockchain ecosystem, including a complete overview, in-depth analysis of Web3 gaming platforms, and answers to various vital questions about the blockchain game industry. You can find the report here.