Venture funding for the blockchain industry remained strong in the third quarter, even as bearish conditions devastated digital asset markets, a sign that venture capital firms were more focused on the value proposition. in the long term of the sector.

Blockchain gaming and metaverse projects raised a total of $1.3 billion in venture capital between July and September, according to DappRadar’s latest gaming BGA report. While this figure was down 48% compared to the second quarter, it nearly doubled the total amount raised in 2021.

DappRadar said projects focused on Web3 metaverse infrastructure accounted for more than 36% of quarterly investments.

Looking at blockchain gaming specifically, the report showed that underlying industry activity was still growing despite the bear market. The…