Over 30% of Blockchain Games Are Now Abandoned, Data Shows
Since 2021, there have been more than 1,300 blockchain games announced, but over 400 of them are now discontinued or abandoned. Funding challenges and evolving market conditions are the primary reasons cited for the cancellation of these games. Many of the discontinued projects were smaller initiatives led by less experienced and under-capitalized teams.
Games Discontinued in 2023
In the latter half of 2023, 162 games were discontinued. Approximately 17% of these fell under the multichain category. However, single-chain games also experienced significant discontinuation rates. Binance’s BNB Chain was the most common network witnessing developers abandoning their gaming projects, followed by Polygon, Ethereum, Sui, and Solana.
High-Profile Game Abandons Blockchain Integration
One notable example is the video game “Goals,” which raised millions of dollars in funding but has decided to move away from blockchain integration. This decision marks a significant pivot in its development trajectory.
Hot Take: The Challenge of Sustaining Blockchain Games
The data showing over 30% of blockchain games being abandoned highlights the challenges faced by developers in this space. While blockchain technology offers unique opportunities for gaming, such as asset ownership and play-to-earn mechanics, it also presents obstacles in terms of funding and market conditions. To ensure the success and longevity of blockchain games, developers need to carefully navigate these challenges and make strategic decisions that align with the evolving needs of the gaming industry.
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