🎮 Here's Why the Web3 Gaming Sector Got $1.1 Billion in VC Money in Q3

GM.

It's Crypto Player One, the first daily newsletter on crypto gaming.

We are the Neil Armstrong of web3 gaming, the first ones to break new ground.

Here's what we've got for you today:

• Daily Trivia.
• The web3 gaming sector keeps attracting VC money.
• In Other News.

Daily Trivia

What is the name of the first fixed shooter video game?

Scroll down to find out the answer.

The Crypto Gaming Sector Keeps Pulling Some Serious VC $$$

Our friends at Galaxy dropped a detailed report about VC investments in crypto in Q3 of 2022.

The stats show that crypto and blockchain are on track to get a record-breaking year in fundraising - YAY!

Since 2017, the sector has never raised less than the year before, so that's awesome.

But the VC investments in Q3 2022 have slowed down.

There are two reasons for this:

• The market crashed.
• Interest rates are going up.

While this is a bearish outlook, the web3 gaming sector stays strong.

It only emerged last year, but it got a ton of VC money.

Here are the three reasons why crypto gaming attracts investors:

1. It's a Young Sector.

Industries that are in their infancy promise higher risks but also better returns.

Companies founded in 2021 got $1.5 billion in VC funding in Q3.

2. The Space Is Moving Quickly.

It's been only a year since its creation, but the space has seen a ton of talent and investment pouring in.

3. Web3 and The Metaverse remain undefined.

There isn't a clear definition for these terms, so the space has no upper ceiling which attracts investors.

As a result, blockchain gaming accounted for more than 35% of all money invested in Q3.

If you want to dive deeper, you can read the full report here.

In Other News

The food conglomerate McCain Foods has joined the metaverse on Roblox.

The legendary game designer of Sims, SimCity, and Spore, talks NFTs and the future of gaming.

Answer

Space Invaders

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