On the 10th of July, a crypto research and data firm unveiled some intriguing stats in the GameFi world. Messari revealed that Venture Capitalist Firms invested a sum of $1.2 billion in the GameFi ecosystem in the first quarter of the year.
In total, 128 different companies played a part in the investment spree. Some notable investments came from FTX, NGC Ventures, and Master Ventures.
Notably, the amount invested by the various firms differed. But the amount per VC averaged around $200 million. FTX had invested close to $2 billion in GameFi and DeFi this year. A few weeks ago, the CEO of Binance took a dig at FTX’s investment practices.
While Changpeng Zhao did not outrightly condemn the exchange, his comments about FTX pointed toward the company’s risk appetite and spending ethics. FTX is one of the largest institutions in the crypto ecosystem. The company is linked with Alameda Research which plays the role of a liquidity provider in the crypto space.
Makers Funds, CakeDeFi, and GameStop Also Invest
Aside from FTX, Makers Funds also splashed in a lot of cash in the GameFi and Media niche this year. The company invested half a billion in both sectors and will be hoping for some tangible returns in the coming years.
Smaller investments in the ecosystem came from CakeDeFi, GameStop, Mechanism Capital, and Qualcomm. Each invested $100 million at various times in the first quarter of the year.
The huge volumes of cash splashed in the GameFi ecosystem prove that blockchain gaming has a prospect. Blockchain gaming became very popular last year when the Axie Infinity game and token rose to stardom.
Following that, more GameFi projects were introduced into the ecosystem. Notably, Crabada, Cryptoblades, and Kryptomon have gained a good number of users within a short time. These gaming projects have solid fundamentals and are sustainable. With the rise of investors’ interest in gaming, GameFi fans may reap huge rewards in the future.