New data from Nasdaq research has shown that investors have been more intent on backing late-stage industry leaders like Animoca Brands than early-stage startups in recent years.
The crypto bear market has also been referred to as a hardware store by many industry insiders and companies.
New data from Nasdaq shows investors had this mindset as they continued to pour money into Web3, particularly Metaverse-related projects.
According to data from last year, 216 Metaverse financing deals were closed with a total funding volume of nearly $2 billion. At the top of the funding pool were the “support”-based services, i.e. the main building blocks:
“Digital architects, game designers, AI developers, content creators, and custom Metaverse services were suddenly needed to create Metaverse experiences.”
Animoca Brands, a major developer of Metaverse ecosystems, closed the most Metaverse deals last year with 15 deals closed. The company raised over $564 million in funding in 2022.
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He also recently announced plans to launch a multi-billion dollar Metaverse fund for space developers.
The report points out that major Metaverse platforms have received more attention from investors this year. Although this paves the way for smaller, more specialized projects in the future. According to Nasdaq, those with “Open Metaverse” plans in particular will gain the upper hand.
See Also: Web3 Developers ‘More Active Than Ever’ In Crypto Winter: Report
Looking ahead, the report says AI support services and avatar companies will continue to see large investments. Additionally, the expansion of open Metaverse platforms will define the next phase of development, along with improved business models and usability in GameFi.
2021 was the year of the Non-Fungible Token (NFT), this year could also be considered the year of the Metaverse as it took second place in the Oxford Dictionary Word of the Year.
Both existed before their respective booms. However, this was the year developers, brands and consumers overwhelmingly jumped on board. In fact, research even shows that the metaverse is a key factor in the long-term success of NFT.
Another recent survey found that over 90% of consumers are curious about the Metaverse and how it will shape their digital experiences.