Thread by @apixtwts

VCs poured over $10b into crypto gaming over the last few years

but no one seems to be playing any crypto games

so where did all this money go and what happened with it? ↓↓↓

/1 some disclaimers:

$10b might be too much or too little

different sources state different numbers, $5-15b seems accurate

there are probably some notable ones missing

this only includes raises from VCs and not ICOs/nodes/other sales

data is from @DefiLlama and Crunch Base

/2 @Immutable ($857m)

Immutable is one of the leading gaming ecosystems in web3 with over 200 games building there like @illuviumio, @Pixelmon, @TheTreeverse & @GuildOfGuardian

they also recently launched their Passport which is supposed to make onboarding as easy as possible

/3 @Sorare ($740m)

raised $680m in a single round to build crypto fantasy games

own licenses to the NBA, MLB, and the biggest football leagues

according to themselves they have over 3m users

/4 Yuga ($450m)

while not all of this was dedicated to gaming, Otherside was supposed to become their flagship project

but as you can expect from Apes, all they shipped so far are some fiverr games

and this

/5 @SkyMavisHQ ($311m)

- created biggest web3 game of last cycle
- @Ronin_Network is one of the most used blockchains globally
- @pixels_online, the biggest web3 game of this cycle, is now building there

established themselves as the leading crypto gaming ecosystem

/6 @playmythical ($297m)

building web3 mobile games, most notably NFL Rivals which has seem solid success

they recently announced a partnership with Pudgy Penguins to build a party game based on the IP

/7 @limitbreak / @DigiDaigaku ($200m)

one of the biggest single rounds in crypto gaming

famously spend $9m on a Super Bowl ad for a free mint

launched a bunch of additional mints and created the ERC-721C token standard

/8 Npixel ($100m+)

Npixel is a korean game developer, they were working on @METAPIXEL, one of the more promising asia based MMOs, but abandoned it shortly after

/9 @GunzillaGames ($100m)

working on one of the biggest shooters in crypto with @playoffthegrid

also did a sizeable node sale on top of their $100m for their gaming chain @GUNbyGUNZ

the game will be one of the first web3 games on consoles, you can become an early tester now

/10 @HomaGames ($100m)

raised $100m to build games, including crypto games

launched a free mint

abandoned crypto after they realized they can't grift a lot of money in a bear market

left right before the bull market was about to start, idiots

/11 @ParallelTCG ($85m)

- one of the highest quality web3 games
- trying to disrupt TCGs and building a strong sci-fi IP
- also building their own AI gaming infrastructure and game using AI agents in @AIWayfinder and @ParallelColony

also $prime is sitting at $600m mcap

/12 also, wtf is @FortePlatform and what did they raise $725m for?

there has been no public communication since one year...