We’re Not Saying Web3 Gaming and Social Is the Future…but This Is a Positive Indicator

TL;DR

• We’re noticing a trend…there’ve been seven funding/development announcements in the Web3 gaming/social space, in the past seven days (with $45M raised).

• We’re not saying it guarantees that Web3 gaming and social will achieve mass-market adoption…but it’s a positive indicator.

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Going to an Ivy League school doesn’t guarantee success.

…but it looks good on a resume.

The same way that heightened investment/development in a particular market sector doesn’t mean the space is going to take off.

…but it’s a positive indicator.

Of late, we’ve noticed a trend in Web3 investment and development – or at least, a trend in news stories about Web3 investment and development…

So, where’s all the money and sweat being poured in Web3?

According to the headlines, it’s gaming and social.

Here’s a rapid fire run-down of announcements/developments that have been made in the past week:

• Ava Labs launched Avalanche Arcad3, which helps traditional game makers build Web3 games.

• HyperPlay, a platform for accessing Web3-native games, just raised $12M.

• Fractal announced the launch of FStudio, a code-free way for developers to add Web3 functionality to their games.

• Argus Labs wants to build an Ethereum friendly gaming blockchain (and just raised $10M to do so).

• Zebedee just released a Twitter alternative that pays users for every ‘like’ they get on a post.

• PairedWorld wants to combat loneliness by rewarding online communities for hanging out IRL (weird, but ok).

• Lens just raised $15M to continue building its vision of Web3 social media.

All that in seven days (!).

Sure, it doesn’t guarantee that Web3 gaming and social will achieve mass-market adoption.

…but it’s a positive indicator.