Despite the current market downturn, Metaverse and Web3 gaming companies are still raising considerable amounts of money.
Chain Games and Metaverse projects have raised about $7 billion in cumulative financing in 2022, reaching $1.2 billion in the third quarter. Among the financing transactions in the third quarter, ChainGame and Metaverse projects received the most funds, together accounting for 38.5% of the total funds.
Infrastructure projects accounted for 33.5%, investment companies accounted for 22.9%, and media and NFT projects accounted for 5%. Data shows that the industry never stops growing and new major players are joining the market.
In September, Hadean, a metaverse infrastructure developer, completed a $30 million Series A financing led by Molten Ventures, with participation from Epic Games, 2050 Capital, Alumni Ventures, Aster Capital, Entrepreneur First and InQTel.