All Eyes on Gaming and Web3
Funding dropping slightly this week from $331M to $311M. The largest deal of the week was Limit Break, in a gaming deal that raised $200M and accounted for nearly two-thirds of all funding. We dive deep into Limit Break in our Deal of the Week segment below. After Metaverse/Gaming, Web3 was the next highest funded sector with three deals totaling $63M. This is the third week in a row in which Web3 and Metaverse/Gaming projects attracted some of the most funding from investors. This starkly contrasts DeFi and CeFi, which have received next to no funding in the past three weeks. CeFi in particular has really seen funding dry up – with no funding for the second week in a row. This decline is most likely due to investors being hesitant with the segment after seeing the insolvency of Celsius and other CeFi platforms.
Adding to Web3 and gaming’s momentum, Reddit founder Alexis Ohanian announced an investment fund that plans to raise $177.6M to invest in the Web3 and gaming ecosystems. The fund, Kryptós, is the latest of Ohanian’s Seven Seven Six (776) venture capital firm.
Deal of The Week:
Limit Break, the company behind the NFT collection, DigiDaigaku, has raised $200 million across two deals to build Web3 MMO games. The investment was led by Buckl...Reports you may have missed
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