The bear market for cryptocurrencies has also been described as a constructive market by many prominent figures and companies in the sector.
New Nasdaq data reveals that investors were in this mindset and continued to pour money into Web3, especially metaverse-related projects.
According to data, 216 metaverse financing deals were closed last year, totaling nearly $2 billion. At the head of the financing are the services based on the “support”, that is, the main components for the construction:
“Digital architects, game designers, AI developers, content creators, and custom metaverse services were suddenly needed to build metaverse experiences.”
Animoca Brands, one of the main developers of the metaverse ecosystem, was revealed as the company that made the most metaverse deals last year, with 15 deals closed. The company received more than $564 million in funding in 2022.
It also recently announced that it plans to launch a billion-dollar metaverse fund for developers in the space.
According to the report, the largest metaverse platforms received more attention from investors this year. Though this paves the way for smaller, niche projects in the future. According to Nasdaq, especially those with “open metaverse” plans will have the upper hand.
looking aheadthe report claims that AI and avatar support service companies will continue to see heavy investment. Furthermore, the expansion of open metaverse platforms will define the next phase of development, along with improving economic models and usability in GameFi.
If 2021 was the year of non-fungible tokens (NFTs), this year could also be considered the year of the metaverse, as it came in second for word of the year in the Oxford dictionary.
Both existed before their respective booms. Nevertheless, this has been the year that developers, brands, and consumers have all jumped on board in droves. In fact, research even shows that the metaverse is a key factor in the long-term success of NFTs.
Another recent survey revealed that more than 90% of consumers are curious about the metaverse and how it will shape their digital experiences.
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