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Crypto Gaming Companies Raised $476 Million in First Half of 2021

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Crypto Gaming Companies Raised $476 Million in First Half of 2021

Twenty-four blockchain gaming companies raised $476 million in the first half of this year, according to a gaming industry report published by gaming venture capital data aggregator InvestGame on July 30. 

Blockchain gaming companies accounted for 5% of the deals announced and closed in the first half of this year, and 9% of the $50.2 billion raised by the industry over the same period. Of the $476 million, 75% was raised by just three companies. 

San Francisco-based blockchain infrastructure company Forte pooled $185 million for its crypto gaming platform in an investment round led by Griffin Gaming Partners, while The Sandbox developer and publisher Animoca raised $88,888,888 in a round led by Kingsway Capital. 

LA-based startup Mythical Gamesfamous for the sandbox multiplayer game Blankos Block Party, banked $75 million, with the bulk of it coming from Westcap.

Blockchain gaming is still a niche and expensive space. There are often high economic and technological barriers to entry for casual gamers. 

Entrants must buy expensive NFTs to start playing the viral Pokémon-inspired Axie Infinity, or stake money in Aavegotchi to build rare NFTs. 

The price of the blockchain gaming tokens linked to these projects often move in tandem; tokens like AXS, MANA, SAND and ENJ rally and crash together. 

It’s still early days, but considering blockchain gaming cornered 9% of the total value of gaming investments over the first six months of the year, there may be plenty of growth yet.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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