Investing in Web3 gaming has become more challenging during the cryptocurrency bear market, according to Animoca Brands CEO Robby Yung. Speaking at the European Blockchain Convention in Barcelona, Yung emphasized the need for thorough due diligence and a more discerning approach to investments in the Web3 gaming sector. He highlighted the importance of finding passionate teams with specific skill sets and product ideas that have a clear market fit. Yung also noted that investors now expect tangible progress and a more mature stage of development from prospective projects. Despite the challenges, Yung acknowledged that companies are still able to raise money, with a number of deals being done in the second half of 2023. However, user acquisition remains a hurdle for Web3 gaming due to hesitance from mainstream gaming platforms to list games with Web3 infrastructure. Yung believes that these platforms are uncertain about the implications and potential disruption to their business models. He emphasized the need for collaboration and engagement between mainstream players and the Web3 community to find solutions that cater to the wider gaming market.