Data Points: Blockchain Gaming Investments Q4 2023

Source: DDM Games Investment Review Executive Summary Report Q4 + Annual 2023

Value and Volume of Blockchain Gaming Investments Q4 2023:

$337.6M across 47 deals

The “crypto winter” may soon be over as blockchain investments totaled $337.6M across 47 investments (-15% in value and +21% in volume compared to Q3’s $395.4M across 39 investments), marking the end of a three-quarter decline in volume dating back to Q1 2023’s $396.7M across 72 investments.

2023 shook out FOMO and short-term players within blockchain. While 2022 was riddled with black swan events including FTX, Terra Luna, and Three Arrows Capital, just to name a few that collapsed, 2023 was a year where short-term investors left, and regulators stepped in. In 2023 blockchain investments totaled $1.4B across 214 investments (a -72% in value and -57% in volume compared to 2022’s $5.2B across 500 investments). Additionally, 2023 blockchain investments represented 35% of all video gaming investments, a -34% decline compared to 2022 where over 50% of all gaming investments were blockchain games or had a blockchain feature.

Highest segment by value was led by Mobile (72%), followed by Tech/Other (16%), MCG or Mass Community Games like Fortnite and Roblox (6%), Console/PC (3%), AR/VR (2%), and eSports (1%).

Blockchain mid/late-stage rounds totaled $227.0M across 8 investments (67% of the value and 17% of the volume), while early-stage rounds totaled $103.8M across 36 investments (31% of the value and 17% of the volume).

Series B rounds led in value totaling $157.1M across 4 blockchain investments (47% of the value and 9% of the volume) while Seed rounds led the quarter by volume totaling $53.0M across 20 blockchain investments (16% of the value and 43% of the volume).

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