NFT and gaming firms saw a 66% jump in venture funding in August

Funding for NFT and gaming-related venture deals jumped 66% in August from the previous month, according to The Block Research.

In August, funding totaled $842 million compared to July’s $507 million. While overall venture funding decreased for the fourth month in a row, the increase in NFT and gaming funding suggests it may be one of the first sectors to recover in the crypto bear market.

Notable venture deals at or above $50 million in August included the mobile gaming firm Limit Break raising $200 million; and a16z funding NFT group Proof Collective with $50 million and metaverse avatar creation firm Ready Player Me with $56 million.

The number of NFT and gaming deal reached 53 deals last month, and comprised 38% of crypto funding deals, as well as the majority of pre-Series A crypto venture funding deals over the past year.

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