TLDR:
- VC investments in blockchain games dropped by 57% in Q1
- Web3 games and infrastructure were the focus of investments
VC investments in blockchain games saw a significant decline of 57% in Q1, totaling $288 million, reflecting investor caution in the sector. The decrease in venture capital deals compared to previous quarters indicates a mix of caution and optimism among developers. Data from DappRadar shows that the sector secured $288 million in funding in Q1, with a focus on web3 games and infrastructure to enrich the web3 gaming ecosystem. Only two standout deals shaped the investment landscape during the period: Parallel Studios secured $35 million in funding, while Gunzilla Games raised $30 million for its upcoming project, Off the Grid, a free-to-play battle royale game. Despite the decrease in VC investments, the influx of funds into new game development and technological advancements suggests a positive outlook for the future of blockchain gaming.
