2024

DappRadar

Aptos

April

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The blockchain gaming sector witnessed an unprecedented influx of investment capital in April, securing $988 million in funding.
Although the first quarter of 2024 saw a cautious approach with a total of $288 million raised among <a href="https://crypto.news/tag/blockchain-game/" target="_blank" rel="noopener noreferrer nofollow">blockchain gaming</a> startups, the beginning of the second quarter signaled a new shift in the investors’ sentiment.
According to <a href="https://dappradar.com/blog/impressive-988m-in-investments-fuels-blockchain-gaming-growth/#Chapter-4" target="_blank" rel="noopener noreferrer nofollow">data</a> compiled by DappRadar, April witnessed an “unprecedented influx of capital” into the web3 gaming sector at $988 million, setting a new record since January 2021. DappRadar blockchain analyst Sara Gherghelas noted that the investment surge in April “has already exceeded the entire second quarter of 2023, which was the best-performing period of that year with $973 million.”
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “This influx of capital comes at a critical time for the gaming industry, which has experienced considerable turbulence, including 20,000 layoffs over the past eighteen months.”
 Sara Gherghelas
</blockquote>
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Gherghelas pointed out that 89% of the funds were directed towards investment firms, 7% supported infrastructure, and 5% went to web3 games. A significant highlight of this investment wave was a $600 million games fund launched by Andreessen Horowitz (<a href="https://crypto.news/tag/a16z/" target="_blank" rel="noopener noreferrer nofollow">a16z</a>) as part of a larger $7.2 billion fundraising effort.
DappRadar emphasized that the latest fund continues a16z’s “commitment to the gaming sector, totaling $1.2 billion dedicated solely to gaming ventures since their initial $600 million raised in May 2022.”
In Q1, the sector <a href="https://crypto.news/vc-investments-in-blockchain-games-plunged-by-57-in-q1-data-shows/" target="_blank" rel="noopener noreferrer nofollow">secured</a> $288 million in funding in Q1, marking a 57% decrease compared to Q4 2023. At the time, DappRadar said the focus of those investments was largely on web3 games and infrastructure, highlighting a period of “foundational building aimed at enriching the web3 gaming ecosystem.”
Read more: <a href="https://crypto.news/bitcoin-halving-will-bring-mass-adoption-to-web3-gaming-opinion/" rel="noopener noreferrer nofollow"> Bitcoin halving will bring mass adoption to web3 gaming | Opinion </a>

Blockchain games secured nearly $990m in April alone, a new record

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