NFT and gaming firms saw a 66% jump in venture funding in August
Funding for NFT and gaming-related venture deals jumped 66% in August from the previous month, according to The Block Research.
In August, funding totaled $842 million compared to July’s $507 million. While overall venture funding decreased for the fourth month in a row, the increase in NFT and gaming funding suggests it may be one of the first sectors to recover in the crypto bear market.
Notable venture deals at or above $50 million in August included the mobile gaming firm Limit Break raising $200 million; and a16z funding NFT group Proof Collective with $50 million and metaverse avatar creation firm Ready Player Me with $56 million.
The number of NFT and gaming deal reached 53 deals last month, and comprised 38% of crypto funding deals, as well as the majority of pre-Series A crypto venture funding deals over the past year.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: MK Manoylov
