Having entered the last quarter of 2024, it is time to take the pulse of blockchain gaming investments during the third quarter of 2024.
As has generally been the case in 2024, the number of investments in terms of publicly announced funding deals and token/NFT sales, etc. will increase. remains stable, up 34% compared to 2023 since the start of the year.
However, the trend is downward with 36 transactions in the third quarter compared to 71 transactions in the second quarter.
But the real problem lies in the value of this activity. In terms of figures monitored, the year 2024 breaks down as follows:
- Q1 — $324 million
- T2 – $296 million
- Q3 – $128 million
In total, this represents $748 million to date, down 31% from the equivalent period of 2023.
Looking back even further, the comparison with previous years is more striking.
As for the transactions themselves, the biggest was Web3 infrastructure startup NPC Labs announcing $18 million in seed funding for the B3 gaming blockchain L3. This cycle was led by Pantera.
Gameplay Galaxy also secured $11 million in its seed funding round, covering the total funds raised for its mobile Web3 sports game. Xtreme Freedom Trial at $24 million. Double Jump Tokyo also closed a deal worth just over $10 million, announcing its Series D funding led by Japanese strategy SBI Investment.
At this rate, 2024 will be well-positioned to cross the $1 billion mark in total funding, up from $1.5 billion in 2023 and a peak of $5.3 billion in 2022.
Still, all hope is not lost as the fourth quarter got off to a strong start with Azra Games’ recent announcement that it had raised $42.7 million in its Series A, which is the largest investment of 2024, exceeding the announced strategic cycle of $35 million. by Parallel Studios in March.
