October Metaverse Fundraising Overview: Insights on Gaming, Infrastructure, and Payments

Metaverse Post highlights a comprehensive fundraising overview for October 2022, focusing on tech innovations in Web3, gaming, and more.

In October, Web3 firms amassed $626.72 million, marking a decline from past figures. September’s total Previously, startups attracted nearly double that—$1.3 billion. This sharp drop could be attributed to the ongoing global economic challenges, including an inflation rate that remained at 8.2% over the last two months. Average funding amounts also saw a decline when compared to September’s rounds.

During October, investments were made across 15 distinct categories. Two of these, Publishing, which raised $1.7 million, and Knowledge, which garnered $40 million, are newly recognized. Moreover, the fashion sector regained traction, bringing in $3.5 million.

A total of ten NFT startups raised about $40.7 million, whereas Metaverse companies managed to secure roughly $8 million. This reflects a continuous decline for the Metaverse category—September saw $39 million, and August recorded $22.3 million.

Even though sports projects still attract some investor interest, their funding has diminished significantly; they raised $1.7 million, down $7.3 million from the prior month. August’s result Investors remain keenly interested in gaming, with $198.4 million raised this month. In the previous September, GameFi garnered $129 million, trailing behind highs of $466 million. October investments particularly favored free-to-play ecosystems and developer tools aimed at empowering both users and creators.

Overall, the trends signal a growing embrace of Web3. Several wallet and banking startups are focused on advancing digital payment solutions worldwide. For example, the mobile money app Wave is working towards making Africa entirely cashless.

Additionally, entrepreneurs are now introducing Web3 counterparts to popular Web2 apps and services. For example, the Decentralized Engineering Corporation is crafting a blockchain-based version of Uber, while Ben Leventhal from Blackbird is creating a hospitality platform centered on restaurants.

The adoption of these Web3 applications is becoming increasingly inevitable, and the shift from the current web framework to a decentralized model appears to be just a question of time.

G aming Industry Trends

The sought-after AAA blockchain game, Delysium, successfully attracted $10 million in a strategic funding round, supported by renowned investors like Anthos Capital, Immutable, GSR, Blockchain Coinvestors, Leon’s Capital, Antalpha, Perion, and Formless Capital.

Homa, a startup dedicated to supporting content creators with tools, insights, and revenue generation capabilities, secured $100 million in a Series B round, spearheaded by Headline and Quadrille Capital, with backing from Northzone, Bpifrance, Eurazeo, and Singular. raised In a promising development, the fashion-oriented digital studio Muus Collective raised $5 million from Griffin Gaming Partners based in LA. The startup is gearing up for an exciting launch.

Consumer demand at the crossroads of gaming, fashion, and Web3 is surpassing supply. The Muus team boasts a proven history of crafting groundbreaking experiences across these domains, aiming to transform how consumers engage and navigate this future intersection. raised Emily Wang, the managing director of LionTree and Griffin Gaming Partners, remarked on their excitement to innovate this consumer experience together. Web3 mobile game . 

Another startup that previously created hit games like Angry Birds and Candy Crush secured €1.2 million in a pre-seed round, with participation from Play Ventures, Sisu Games Ventures, and Joakim Achrén, with ambitions to reshape the gaming industry through Web3 innovations.

Another enterprise raised $2 million in a pre-seed round, attracting investors like Play Ventures, Equilibrium, and Joakim Achrén, focusing on developing a Web3 arcade game called Smash Stars, with plans to roll out more free-to-play titles.

Mobile-first Web3 game studio Tribo raised In a separate pre-seed funding endeavor, another startup garnered $2 million, led by Vgames, with additional investor support from Shima Capital, Paribu Ventures, and Solana Ventures, as they aim to create next-gen blockchain-based free-to-play games.

Flowstate Games raised A Series A round raised $40 million, led by Brevan Howard Digital and Morgan Creek Digital, including participation from prominent names like Take-Two Interactive Software Inc., Polygon, Ubisoft, Initialized Capital, Xsolla, BITKRAFT, Quantstamp, Everyrealm, Sky9 Capital, Round13 Capital, CMT Digital, Xchange, Translink, J17, Sentiment Capital, Unicorn Partners, and Perpetual Value Partners. The studio is dedicated to making Web3 enjoyable and accessible while empowering developers and players alike.

Gaming multiverse Elyzio raised A Series A round of funding secured $30 million, led by Framework Ventures with additional backing from Acrew Capital, Distributed Global, and Blockchain Capital, aiming to simplify and enhance the development of inclusive virtual games.

Horizon Blockchain Games raised Arcade2Earn, a gaming platform operating on Solana, received backing from a range of investors, with a funding round led by Solana Ventures, KuCoin Labs, Shima Capital, LD Capital, Merit Circle, GSR, BigBrain, Tenzor Capital, among others. This funding will support their mission to transform GameFi into a more accessible arena.

Video gaming platform Stardust raised In a seed round, the company raised $5 million under the leadership of C² Ventures, with additional investors like Polygon, 6MV, Lightspeed, Everyrealm, Ancient8, Avalaunch, Morningstar Ventures, and Big Brain Holdings also contributed.

A pre-seed venture raised $3.7 million, primarily driven by Cherry Crypto and Inflection, with participation from Coinbase Ventures, Bessemer Venture Partners, Btov Partners, and Paua Ventures. This firm focuses on NFT solutions that reward users for engaging with DAOs. raised $3.2 million in a Seed round led by crypto.com Another startup secured $2 million in pre-seed funding, backed by notable angel investors such as Sebastien Borget, Dominic Thiem, Brian O'Hagan, and a roster of others.

Auto-chess battler Project Eluune raised In a funding round led by Electric Capital, the company raised $4.2 million, which also saw participation from OpenSea, Ethereal Ventures, Village Global, Page One Ventures, and various angel investors. They have successfully launched an Ethereum-based Beta version.

NFT Industry Trends

NFT startup Otterspace raised Waterfall, an NFT trading protocol, raised $4 million in its seed round led by Electric Capital and Pantera Capital.

Sports-themed NFT platform FANtium raised The music-themed NFT platform Stems secured $4 million in a pre-seed round, with investment from IDEO Colab Ventures, Merit Circle, Yield Guild Games, FireEyes, Jump Crypto, and Akatsuki.

Lasso Labs raised TrustCheck, a security-focused startup for NFTs developed by Web3 Builders, raised $7 million in its seed round, with participants including OpenSea, Road Capital, G20, Sparkle Ventures, ACME, Picus Capital, TTV, Haven Ventures, and Global Founders Capital. This browser extension is designed to assess risks associated with crypto transactions.

$7.5 million in a Seed round was raised with Multicoin Capital at the helm, alongside participation from North Island Ventures, Brevan Howard Digital, Crosslink Capital, and others. Mercury utilizes NFTs to bridge real-life experiences for college sports enthusiasts.

Mintify, a platform offering NFT trading tools, secured $1.6 million in a seed round led by Arca, with additional investor engagement from Alchemy Ventures, GSR, Psalion, and Fasanara.

Exclusible, a luxury-focused NFT startup, raised $5 million in a round led by Dan Holzmann, the owner of FC Basel, along with Tioga Capital, to provide premium brands with support for their digital asset development. raised Spice Finance, an aggregator and liquidity routing protocol catering to NFT lending marketplaces, raised $1.7 million in a pre-seed round led by Shima Capital. Other participants include ProtoFund, Delta Blockchain Fund, Big Brain Holdings, Nxgen, Side Door Ventures, Hypotenuse Labs, Crest Group, Origin Protocol, and Orrick. This startup is positioning itself as a liquidity scaling solution for the broader digital economy, beginning with a high-yield lending application to link DeFi capital with NFT lending returns.

College sports NFT startup Mercury raised AlterVerse, a company focused on creating immersive Metaverse gaming experiences, received support from Binance Labs, Polygon Ventures, Baselayer Capital, Ankr, and EnjinStarter. Their flagship project, 'SkyCity', will feature four distinctive gaming phases.

METAV.RS, a metaverse platform designed for brands and agencies, secured €3 million in a seed round driven by Jsquare, with participation from Sia Partners, 50 Partners, David Balland, Sebastien Borget, and other investors. raised In an incredible collaboration, $5 million was raised from NetDragon and Sumitomo Mitsui Trust Bank, supporting a startup dedicated to helping Chinese celebrities thrive in the metaverse, with plans to unveil their NFT project.

YoloYolo, a platform merging Web3 fashion and lifestyle, raised $3.5 million in a seed funding round, which included investments from Avatar Ventures, ParaFi Capital, C² Ventures, Mirana Ventures, Morningstar Ventures, Yolo Investment, Signum Capital, Genblock Capital, and UOB Venture Management. raised A seed funding of $1.7 million was raised, primarily driven by Lingfeng Capital, with contributions from Stratified Capital, Bixin Ventures, Orderly Network, and CDI, targeting professional runners and apparel manufacturers.

October's Fundraising Overview for the Metaverse: Insights into Gaming, Infrastructure, and Payment Trends from Metaverse Post raised In its latest edition, Metaverse Post presents an in-depth analysis of the funding landscape for October 2022, with particular emphasis on technology firms deeply involved in Web3, the Metaverse, gaming, and other innovative sectors.

M etaverse Industry Trends

Fundraising Overview for October: Key Trends in Gaming, Infrastructure, and Payment Sectors received funding Contents Overview: Trends in Gaming Industry, NFT Sector Insights, Metaverse Developments, Fashion Market Trends, Sports Sector Progress, and DAO Analysis

FTC's Appeal to Halt Microsoft-Activision Merger Fails raised Date Published: November 3, 2022, 7:57 AM | Last Updated: November 4, 2022, 7:12 AM

Zebra Labs raised To enhance your experience in your local language, we sometimes utilize an auto-translation plugin. Please be aware that automated translations might not always be accurate, so proceed with caution.

F ashion Industry Trends

Web3 startups collectively secured $626.72 million in October raised Investors showed interest across fifteen different categories, with a spotlight on Publishing and Knowledge sectors.

S ports Industry Trends

Web3 fitness app Gritti raised Gaming remains a dominant field, achieving substantial fundraising success. Youbi Capital Startups associated with the Metaverse have seen a significant decline in funding, raising only around $8 million this month.

DAO  Industry Trends

Origami , a DAO framework provider, raised Reporting on Metaverse fundraising data from July.

Metaverse Post has released a fresh fundraising report for October 2022, highlighting technology companies that excel in Web3, the Metaverse, gaming, and additional sectors. raised In October, Web3 ventures attracted funding totaling $626.72 million, a notable drop compared to previous months.

Publishing Industry Trends

Web3 publishing platform Paragraph raised Just last year, these startups managed to pull in nearly double the current amount—about $1.3 billion. This steep downturn could be linked to the ongoing global economic challenges, particularly as inflation remained steady at 8.2% over the last couple of months. It's crucial to point out that average investment amounts also declined when contrasted with September's funding rounds.

K nowledge Industry Trends

The month of October witnessed investments across 15 categories, with Publishing and Knowledge making their debut, garnering $1.7 million and $40 million respectively. Additionally, the fashion sector made a resurgence, gathering $3.5 million. raised In the NFT space, ten startups achieved a collective fundraising total of $40.7 million, while entities within the Metaverse sector attracted about $8 million. This category continues to struggle; just last month, Metaverse startups had raised $39 million, and $22.3 million the month before. Sports-related projects also hold some appeal but are not garnering as much funding; they raised $1.7 million—down by $7.3 million from the previous month.

I dentity Industry Trends

Identity-oracle protocol Clique closed The gaming sector remains hot among investors, raising $198.4 million. In comparison, GameFi managed $129 million in September, which was itself a decrease from $466 million. In October, investors seemed more inclined towards free-to-play games and tools for gaming developers that empower users.

It's becoming evident that trends are leaning towards broader Web3 adoption. A number of wallet and banking startups are actively working to streamline digital payments on a global scale. For example, the mobile payment application Wave aspires to make Africa the world's first cashless continent. raised Moreover, entrepreneurs are now rolling out Web3 variations of widely used Web2 applications and services. Decentralized Engineering Corporation, for instance, is in the works of creating a blockchain alternative to Uber, while Ben Leventhal of Blackbird is developing a hospitality platform tailored for restaurants.

The integration of these Web3 applications is merely a question of timing, as is the evolution from the traditional internet format to a decentralized version. raised The blockchain-based AAA game Delysium secured $10 million in a strategic investment round, supported by notable firms like Anthos Capital, Immutable, GSR, Blockchain Coinvestors, Leon’s Capital, Antalpha, Perion, and Formless Capital.

W allet Industry Trends

Homa, a startup that focuses on offering creators tools, insights, and monetization opportunities, raised $100 million in a Series B funding round led by Headline and Quadrille Capital, with contributions from Northzone, Bpifrance, Eurazeo, and Singular. raised The digital studio Muus Collective, which has a strong fashion focus, attracted $5 million from LA-based Griffin Gaming Partners. This startup is gearing up to unveil its inaugural product.

Aptos-based wallet Martian raised 'There’s a noticeable gap between consumer demand and available supply where gaming, fashion, and Web3 intersect. The Muus team boasts a strong history of creating unique experiences across these fields, and we are thrilled to redefine the consumer landscape and the future of this convergence together,' stated Emily Wang, managing director at LionTree and Griffin Gaming Partners.

Ottr Finance raised The company clocked in €1.2 million in a pre-seed fundraising round, with Play Ventures, Sisu Games Ventures, and Joakim Achrén joining the effort. The founders, who previously developed blockbuster games like Angry Birds and Candy Crush, are now on a mission to transform the gaming landscape with Web3 innovations.

Raising $2 million in a pre-seed round, this startup drew support from investors including Play Ventures, Equilibrium, and Joakim Achrén. They're on the path to launch a Web3 arcade title named Smash Stars, with plans to introduce more free-to-play options. raised This venture secured $2 million in a pre-seed round, led by Vgames. The round welcomed investments from Shima Capital, Paribu Ventures, and Solana Ventures, with ambitions to develop the next wave of blockchain-based free-to-play games.

P ayment Industry Trends

African mobile money app Wave raised In a Series A funding round, this company garnered $40 million, backed by Brevan Howard Digital and Morgan Creek Digital, alongside participation from industry giants like Take-Two Interactive Software Inc., Polygon, Ubisoft, Initialized Capital, Xsolla, BITKRAFT, Quantstamp, Everyrealm, Sky9 Capital, Round13 Capital, CMT Digital, Xchange, Translink, J17, Sentiment Capital, Unicorn Partners, and Perpetual Value Partners. Their goal is to make Web3 engaging and accessible for all users and developers.

Another startup raised $30 million in a Series A funding round led by Framework Ventures and supported by Acrew Capital, Distributed Global, and Blockchain Capital. This Palo Alto-based company aims to simplify the development of inclusive virtual gaming experiences. raised The gaming platform Arcade2Earn, built on Solana, has also attracted significant capital.

Web3 banking platform Arf raised The funding round received backing from Solana Ventures, KuCoin Labs, Shima Capital, LD Capital, Merit Circle, GSR, BigBrain, Tenzor Capital, and others. The funds will be utilized to adapt GameFi into an inviting arena for all.

A Seed funding round produced $5 million in new investment, spearheaded by C² Ventures. Additional participants included Polygon, 6MV, Lightspeed, Everyrealm, Ancient8, Avalaunch, Morningstar Ventures, and Big Brain Holdings.

said the CEO of Arf, Ali Erhat Nalbant.

Web3 Industry Trends

Rye , a Web3 API for eCommerce, raised In another pre-seed round, $3.7 million was raised under the guidance of Cherry Crypto and Inflection, with participation from Coinbase Ventures, Bessemer Venture Partners, Btov Partners, and Paua Ventures. This company is dedicated to offering NFTs based on user engagements within DAOs.

A pre-seed round resulted in a $2 million raise, with contributions from prominent angel investors such as Sebastien Borget, Dominic Thiem, Brian O’Hagan, among others. raised $4.2 million was raised in a funding round led by Electric Capital, attracting involvement from OpenSea, Ethereal Ventures, Village Global, Page One Ventures, and several angel investors. The startup has already launched its Ethereum-based Beta version.

The NFT trading protocol Waterfall secured $4 million in a seed round, championed by Electric Capital and Pantera Capital. raised Stems, a music-themed NFT platform, raised $4 million in a pre-seed round, with investors like IDEO Colab Ventures, Merit Circle, Yield Guild Games, FireEyes, Jump Crypto, and Akatsuki backing the effort.

Collectible platform MynaSwap raised TrustCheck, an NFT security startup initiated by Web3 Builders, garnered $7 million during a seed funding round. Participants included OpenSea, Road Capital, G20, Sparkle Ventures, ACME, Picus Capital, TTV, Haven Ventures, and Global Founders Capital. This browser extension meticulously evaluates the risks associated with crypto transactions.

Mercury wrapped up a $7.5 million Seed round, led by Multicoin Capital, with participation from North Island Ventures, Brevan Howard Digital, Crosslink Capital, and more. This platform leverages NFTs to elevate real-life experiences of college sports fans. raised Mintify, an NFT trading toolkit platform, secured $1.6 million in a seed round spearheaded by Arca, which saw additional investment from Alchemy Ventures, GSR, Psalion, and Fasanara.

Exclusible, a luxury-focused NFT startup, successfully raised $5 million with leadership from FC Basel owner Dan Holzmann and Tioga Capital. The company offers elite brands support in the development of digital assets. raised Spice Finance, an aggregator and liquidity routing protocol targeting NFT lending marketplaces, amassed $1.7 million in a pre-seed round led by Shima Capital. Other contributors to this round included ProtoFund, Delta Blockchain Fund, Big Brain Holdings, Nxgen, Side Door Ventures, Hypotenuse Labs, Crest Group, Origin Protocol, and Orrick. They aspire to evolve into a liquidity scaling protocol for the global digital economy, commencing as a high-yield lending application connecting DeFi resources with NFT lending yields.

Airstack , a Web3 API platform, raised AlterVerse is in the process of constructing a Metaverse gaming experience.

S ecurity Industry Trends

Web3 security startup Ancilla received This project received support from Binance Labs, Polygon Ventures, Baselayer Capital, Ankr, and EnjinStarter. The team is developing 'SkyCity,' which will consist of four distinct gaming phases.

METAV.RS, a metaverse platform targeted at brands and agencies, has raised €3 million in a seed funding round guided by Jsquare, with additional participation from Sia Partners, 50 Partners, David Balland, Sebastien Borget, and others.

This startup received $5 million from NetDragon and Sumitomo Mitsui Trust Bank, aiming to assist Chinese celebrities in navigating the metaverse while they prepare to launch an NFT project.

Cybersecurity boutique Hexens raised YoloYolo, a Web3 fashion and lifestyle platform, raised $3.5 million in a seed funding round, attracting participation from Avatar Ventures, ParaFi Capital, C² Ventures, Mirana Ventures, Morningstar Ventures, Yolo Investment, Signum Capital, Genblock Capital, and UOB Venture Management.

A nalytics Industry Trends

Spindl , a Web3 analytics company, raised In another seed round, this platform secured $1.7 million with guidance from Lingfeng Capital, bolstered by involvement from Stratified Capital, Bixin Ventures, Orderly Network, and CDI.

I nfrastructure Industry Trends

October's Metaverse Fundraising Overview: Insights into Gaming, Infrastructure, and Payment Trends raised This month, Metaverse Post unveils its fundraising overview highlighting the activities of tech companies focused on Web3, gaming, and the Metaverse for October 2022.

Web3 infrastructure firm ChainSafe raised October Fundraising Insights: Exploring Trends in Gaming, Infrastructure, and Payment

Inside This Report: Trends in the Gaming Sector, Insights on NFTs, Overview of the Metaverse, Notable Fashion Trends, Sports Developments, and DAO Insights raised FTC's Attempt to Halt Microsoft-Activision Merger Fails

Date Published: November 3, 2022, at 7:57 AM – Updated Later that Day at 7:12 AM raised To enhance your experience in your preferred language, we occasionally use an automatic translation tool. Be aware that it may not always confer precise translations.

Tatum raised In October, Web3 enterprises gathered a staggering $626.72 million in funding.

Data startup nxyz raised Fifteen distinct categories attracted investor interest, particularly focusing on Publishing and Knowledge sectors.

The Gaming sector continues to dominate with impressive funding figures, securing substantial amounts. raised Conversely, startups affiliated with the Metaverse are witnessing a significant downturn, with only around $8 million raised this month.

A closer look at the Metaverse fundraising stats from July. raised Metaverse Post presents its fundraising analysis for October 2022, shining a spotlight on tech firms that thrive at the intersection of Web3, gaming, and the Metaverse.

Layer 1 startup Sharedum raised Throughout October, Web3 firms successfully garnered $626.72 million in total. This figure notably lags behind the previous months' totals.

Blockchain software developer Fun raised Last October, funding had nearly doubled at $1.3 billion. This considerable drop may be linked to the ongoing global economic challenges, with inflation rates hovering at 8.2% over the last two months. Average financing amounts also dipped when compared to September's investment rounds.

Notable Investors

Fifteen investment categories were noted in October, with two newcomers: the Publishing sector, securing $1.7 million, and Knowledge, which welcomed $40 million in investments. The fashion sector made a comeback, attracting $3.5 million in funding.

Ten NFT startups collectively raised $40.7 million, while the Metaverse sector only managed to pull in around $8 million. This decrease reflects a steady downward trend; in September, Metaverse companies raised $39 million, and in August, it was $22.3 million. Though sports-related projects still capture some interest, they received considerably less backing compared to previous months, pulling in $1.7 million—a drop of $7.3 million from the prior month.

The Gaming sector remains a hot favorite among investors, amassing $198.4 million. In September, GameFi brought in $129 million, trailing behind the high of $466 million seen earlier.

In October, investors leaned towards free-to-play gaming models and developer tools, both of which are designed to empower users and creators.

Current trends indicate a growing acceptance and adoption of Web3. Emerging wallet and banking startups are dedicated to enhancing digital payment efficiencies globally. A standout example is the mobile finance app Wave, which is on a mission to transform Africa into the globe's first cashless continent.

Moreover, entrepreneurs are now presenting Web3 versions of popular Web2 applications and services. For instance, Decentralized Engineering Corporation is in the process of launching a blockchain-based alternative to Uber, while Blackbird's Ben Leventhal is crafting a hospitality platform centered around restaurants. crypto and Web3 companies The integration of these Web3 solutions seems imminent, as does the shift from our current internet model towards a decentralized future.

The highly anticipated playable AAA blockchain game, Delysium, has successfully raised $10 million in a strategic funding round supported by notable investors including Anthos Capital, Immutable, GSR, Blockchain Coinvestors, Leon’s Capital, Antalpha, Perion, and Formless Capital.

Homa, a startup concentrating on tools, insights, and revenue opportunities for creators, secured $100 million in a Series B funding round backed by Headline and Quadrille Capital. Also contributing were Northzone, Bpifrance, Eurazeo, and Singular. announced Muus Collective, a digital studio with a fashion focus, successfully raised $5 million from Griffin Gaming Partners based in LA. They are gearing up for their inaugural launch.

"Consumer interest surpasses what's available at the crossroads of gaming, fashion, and Web3. The Muus team has an impressive history of creating innovative experiences across these industries, and we are thrilled to reshape consumer interactions and pioneer the future of this intersection,\" expressed Emily Wang, managing director at LionTree and Griffin Gaming Partners.

Read related posts:

• The startup that has previously crafted popular games like Angry Birds and Candy Crush recently collected €1.2 million in a pre-seed round, with support from Play Ventures, Sisu Games Ventures, and Joakim Achrén, aiming to transform the gaming landscape with Web3 titles.
• Another startup raised $2 million during its pre-seed round, with involvement from Play Ventures, Equilibrium, and Joakim Achrén. They're focused on creating the Web3 arcade experience, Smash Stars, alongside additional free-to-play offerings.
• A startup secured $2 million through a pre-seed round, spearheaded by Vgames, complemented by investments from Shima Capital, Paribu Ventures, and Solana Ventures. Their ambition is to develop groundbreaking blockchain-powered, free-to-play titles.