The crypto gaming market is growing rapidly: 24 blockchain gaming companies raised $ 476 million in the first half of 2021. The amount of investment represents almost 10% of investments in the gaming industry this year. The capital raised represents 9% of the total value of investments made during this period. Three companies account for 75% of investments in blockchain gaming.

Twenty-four blockchain gaming companies raised $ 476 million in the first half of 2021. That’s according to a gaming industry report released by gaming venture capital data aggregator InvestGame on July 30.

Blockchain Gaming Division Records Extreme Growth

Blockchain gaming companies accounted for 5% of the deals announced and completed in the first half of this year and 9% of the $ 50.2 billion raised by the industry over the same period. Of the total of $ 476 million, 75% was raised by only three companies.

San Francisco-based blockchain infrastructure company Forte raised a whopping $ 185 million for its crypto gaming platform in an investment round led by Griffin Gaming Partners. The developer and publisher of The Sandbox, on the other hand, Animoca, took the sum of $ 88,888,888 in a round led by Kingsway Capital.

Los Angeles-based startup Mythical Games raised $ 75 million, with the bulk of that coming from Westcap. The company is known for the sandbox multiplayer game Blanko’s Block Party.

Important to know: The new blockchain gaming division is still a niche and relatively expensive. For casual players, there are often high economic and technological barriers to entry in this area.

For example, newcomers need to buy expensive NFTs (non-fungible tokens) to play the viral Pokémon-inspired Axie Infinity (AXS) (click here for our Axie Infinity forecast)-or invest money in Aavegotchi to build rare NFTs.

The price of the blockchain gaming tokens associated with these projects often moves in step; tokens such as AXS, MANA, SAND, and ENJ rise and fall together.

It’s still early days-but considering blockchain gaming accounted for 9% of the total value of gaming investment in the first six months of the year, it looks like there’s plenty of room for growth. You can watch the full report on the rapid growth of the crypto gaming industry here.

Now AXS at buy now

Text credit: Decrypt

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