Best P2E Games

Metaverse momentum and alliances drive $297 million Web3 game investments in July 2023

Share This with Other Gamers

Metaverse momentum and alliances drive $297 million Web3 game investments in July 2023

Investments in Web3 gaming saw a big upswing in July, rising to $297 million because of the strategic alliances and major announcements in web3 and Metaverse. Previously, investment in Web3 gaming hit a yearly low of $68 million in June 2023. DappRader’s numbers from Thursday indicated that this was primarily due to difficulties encountered in the market. Many web3 gaming initiatives were impacted by SEC proceedings against two big corporations, Binance and Coinbase.

DappRadar estimates that there are currently 712,611 unique active wallets used on a daily basis in this industry. Despite a 0.5% month-over-month decline, this still accounts for 41% of total business.

Blockchain gaming and the metaverse were examined in depth throughout the month of July, revealing a landscape rife with potential and quick change.
Meanwhile, infrastructure projects attracted the lion’s share of funding, totaling $187 million (or 63% of the total).

Web3 Gaming Attracts Major Investors

Web3 gaming is on track for revolutionary changes as major investors come in and established companies like Google acknowledge its importance. The latest report from DappRadar is reviewed to provide you with the key points.

Meanwhile, the $110 million spent on games and metaverse projects represents 37% of the total expenditure. Playing with Blockchain In terms of UAW (Unique Active Wallets), WAX was the clear frontrunner in the gaming industry. Alien Worlds, along with other popular Web3 games such as Wombat Dungeon Master and Taco, resides on WAX, which receives an average of 300,325 dUAW every month.

With a 43% increase to 108,311 dUAW, BNB Chain has recaptured second place. Xterio and Gaimin, two gaming platforms, rise as major contributors to its expansion. Support for games on SKALE, like CryptoBlades, increased by 64%, to the tune of 18,133 dUAW. The flow rate increased by 105%, reaching 19,621 dUAW.

DappRadar’s Latest Report Highlights on Web3 Gaming

Unique gameplay mechanics and engaging experiences made possible by Web3 gaming help developers stand out in a cluttered industry. In addition, it implements creative methods of making money, such as the sale of virtual items and the use of a “play to earn” system.

Forty-one percent of all transactions on the blockchain occurred in the gaming industry, with WAX having the most unique active wallets.

The Ethereum L2 gaming scene was shaped by the collaboration between CyberKongz and Ronin, and the subsequent move to Arbitrum by Mighty Bear Games.

While the number of items bought and sold in virtual worlds drops, Google’s Play Store is gearing up to accept web3 games with caveats.

The “Mighty Action Heroes” game by Mighty Bear Games migrates from the Polygon platform to the Arbitrum network, giving the latter network a boost.
In just one month on Arbitrum, TreasureDAO processed a total of 73,580 transactions worth approximately $842,000.

In July, Sweat Economy surpassed 739 thousand monthly UAW in active users to become the most popular game dapp.

Last month, the value of virtual goods traded was $5.6 million. It is at a year-low, due to the selling of 10,796 parcels of land. In this month, virtual world trading volumes followed June’s pattern of fall.

The majority of the activity in the virtual economy centered around the popular dapps Otherdeed for Otherside and Otherdeed Expanded. Investments in Web3 gaming increased to $297 million, with the majority (63%) going towards infrastructure expansion.

Despite industry downtrends, investments also reflected faith in the possibilities of the metaverse and virtual worlds in these areas.

Google will eventually add web3 gaming to the Play Store, but only under particular conditions. Google’s action has also rekindled the curiosity of mobile game developers about experimenting with NFTs.

Final Thoughts

Insights from blockchain games and the metaverse in July highlight a general sense of confidence. In spite of market volatility, the large investments and Google’s endorsement of Web3 gaming demonstrate the increasing interest and incorporation of blockchain technology.

Significant projects using platforms like Ronin prove that blockchain’s presence in the gaming industry is booming. It’s a massive shift that’s actively changing the future of the industry. Furthermore, it will be crucial to track how these expenditures lead to product advancement, user involvement, and market expansion as the month progresses. The future is bright as it stands at the intersections of gaming, blockchain technology, and the metaverse.

Summary: Metaverse momentum and alliances drive $297 million Web3 game investments in July 2023

Discover how July 2023 saw a $297M surge in Web3 game investments, fueled by Metaverse momentum and strategic alliances.

In July 2023, investments in Web3 games went up to $297 million because of strategic partnerships and big news in the Web3 and Metaverse worlds. This came after the market hit a low of $68 million in June, which was partly caused by SEC actions against Binance and Coinbase. Even though the number of daily active wallets (712,611) has gone down by 0.5%, Web3 gaming still makes up 41% of all business. Infrastructure projects got the most money, which added up to $187 million. Google and other big companies put money into Web3 gaming because of its potential to change things. In its report, DappRadar talks about unique mechanics and ways to make money, as well as trends in Ethereum L2, Google Play, and Metaverse.

Web3 Gaming and Metaverse Investments Witness a Massive Surge
Web3 Gaming and Metaverse Investments Witness a Massive Surge

Play to Earn Games News

Thank you for visiting! Your one-stop shop for everything related to play-to-earn, crypto, NFTs, blockchain, and Web3. With reviews, videos, and articles available across platforms, you can stay up to date on the newest and best play-to-earn games.

We’re here to help you improve your gaming experience by providing information on game tokens, whitepapers, and social media buzz. Dive into our “Best Games” and “Game Lists” sections for top P2E picks, and check out our “Video Game News” section for daily updates.

Do you have any exciting game news? Send us your press release, and our PlayToEarn Game news team will cover it. Join us as we search for the best play-to-earn games and delve into the world of Web3 gaming. Choose for P2E news and excitement!

Metaverse momentum and alliances drive $297 million Web3 game investments in July 2023

If you like this game, share it with your friends:

More Games

Related P2E Games: Play To Earn Crypto, NFT, Web3

Best P2E Games list 2024

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.