The venture capital arm of top US crypto exchange Coinbase is forecasting that one sector of the digital asset markets is on track to become a huge industry driver.
In its latest Q2 recap and market outlook update, Coinbase Ventures says that popular blockchain-based game Axie Infinity (AXS) set the precedent for what the crypto sector could achieve, despite the naysayers.
“Regardless, Axie posted nearly $1 billion in sales in a single month and attracted two million daily active users with essentially zero marketing budget. This put the entire gaming world on notice to the power of this new vertical.
With an estimated 3.2 billion+ gamers in the world, we strongly believe that Web3 gaming will onboard the next massive wave of crypto users. Web3 gaming remained a sector of heavy investment in Q2, with The Block estimating that $2.6 billion+ was raised. Our activity over the last few quarters only strengthens our conviction.”
The venture capitalists say that the sector is already...
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