Blockchain Games And Metaverse Projects Make Big Waves With $148M In Funding

The blockchain game industry showed robust investment activity throughout February with a total of $148 million raised.

While slightly lower than the $156 million raised in January, it's still a positive start to the year for this growing sector.

About 65.2% of the $148 million raised in February is earmarked for games and the metaverse, while 26.1% is being invested in infrastructure, and 4.3% in NFTs.

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The report draws attention to the moves made by Kratos Studios, which raised a $20 million investment and also acquired IndiGG. The move will enable it to build a decentralized autonomous organization (DAO) focused on Web3 gaming under the IndiGG brand.

"Kratos Studios plans to use the funds to develop distribution rails in emerging markets for global Web3 games while investing in identifying, building, and developing promising Web3 games worldwide," the document explained.

Another notable investment was Mino Games, which raised $15 million to develop its Dimensionals collectible character game with Web3 features. With this funding, the company plans to create an exciting game that leverages the benefits of blockchain technology.

In addition, Amazon AMZN led a $20 million investment in Superplastic, an entertainment company that specializes in creating virtual celebrities such as Janky and Guggimon.

"Overall, we’re definitely seeing a shift towards the DAO world, especially in gaming. DAOs offer a new way of organizing and funding projects, and they provide more transparency and decentralization than traditional organizations," DappRadar added.

And concluded, on a positive note: "While we’re not yet seeing the same level of investments as we did in February 2022, the start of the year is relatively bullish for blockchain game investments."

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