Venture capital is seeing a strong comeback in the gaming industry, with a surge in both funding and deal volume.to Konvoy Ventures, a venture capital firm specializing in the video gaming industry, the first quarter of 2024 saw $594 million in gaming VC funding, marking a 94% increase from the previous quarter. Deal volume also rose 28%, with 124 deals completed.
The Web3 industry is also being driven by blockchain games. According to DappRadar, Web3 games accounted for 30% of all DApp activity in the first quarter of 2024, attracting 2.1 million active wallets every day. During the quarter, Polygon drew in over 1.1 million new wallets, an increase of 429% from the quarter before.
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