According to a recent report by Dappradar, the total amount of funds raised by Metaverse projects has reached approximately $707 million from the beginning of 2023 to the end of June. Although this figure accounts for 43.68% of the total financing of cryptocurrency projects in 2023, it is still 10% lower than the total financing of Metaverse projects in 2022, which is about US$7.6 billion.
The report further highlights the huge growth potential of the virtual universe industry in the Asian region, which includes countries such as China and Japan.
According to Dappradar, a surge in official support and investment from government agencies and businesses in Asian countries has fueled the rapid growth of the virtual universe industry.
China, in particular, is one of the few countries that has developed a comprehensive plan for virtual universe implementation, especially in the fields of education and tourism. Chinese companies such as ByteDance, Alibaba, Baidu, and Tencent are actively investing in the development of Metaverse hardware and software, further fueling the industry’s growth.
Although the amount of funds raised by Metaverse projects in the first half of 2023 is large, it has slightly decreased compared to the previous year. However, experts remain optimistic about the industry’s prospects given the continued investment and support from key players.
Dappradar’s report is a testament to the evolving landscape of virtual universes and their growing importance in the global economy.
