Metaverse & Gaming Sector Revives
Weekly Recap
Momentum has continued after last week’s rebound in funding, with both deal count and total funding at similar levels. Total funding dropped $13m but still reached a robust $116m, while deal count stayed level with last week at 22 deals. Metaverse & Gaming is resurging after only three deals were announced for the category in August. These start-ups raised $31m in four deals, half of which came from anime gaming company Pahdo Labs, one of our selected deals. CeFi companies also raised $31m between three deals, including our deal of the week, Flashwire. These companies are focused on building Web3 financial services for both retail and institutions. Last year’s implosions of major CeFi players left investors hesitant to invest in space after news emerged that many of the most prominent players had fraudulent practices. This gap may be creating opportunities for companies willing to operate more ethically.