Metaverse Holds 43.68% Of Web3 Investments
Despite a drop in projects in the Metaverse and virtual worlds, DappRadar, a Web3 monitoring site, recently revealed that venture capital firms have invested $707 million in them since the beginning of 2023.
Despite the rise of meme tokens and artificial intelligence (AI) as dominant narratives, 43.68% of these investments were in metaverse-related ventures. For more information, please see the section below.
Interest in Metaverse projects has declined significantly since the beginning of 2023, with trading volume reaching $56 million in the second quarter. This decline is attributed to public interest shifting to topics like meme tokens and AI, which have become mainstream.
DappRadar’s report shows that the total funding received by metaverse projects since 2023 was $707 million, representing less than 10% of the $7.6 billion raised in 2022. However, the metaverse remains in a prominent position in the Web3 environment, accounting for 43.68% of all investments in the sector. DappRadar’s report identifies Asia, including Hong Kong, Mainland China, and Japan, as a continent where the metaverse will thrive.
(With inputs from Shikha Singh)
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