High Discontinuation Rate in Blockchain Games
According to the Big Blockchain Game List, more than 30% of blockchain games announced in 2023 have been discontinued or canceled. The list currently includes 911 games, with 334 live and 577 still in development.
Out of a total of 1,318 blockchain games listed since 2021, 31% (equivalent to 407 games) are classified as discontinued or abandoned. This classification refers to official announcements of project cancellations or prolonged periods of inactivity.
Funding challenges and market conditions arising from the crypto winter are commonly cited reasons for game discontinuations. Many projects choose to cease operations without making formal announcements.
Trends in Discontinued Games
In the second half of 2023, 17% of the 162 discontinued games were labeled as multichain, indicating a growing trend of games integrating with multiple blockchains. When examining discontinued games based on single blockchains, BNB and Polygon were the most prominent, accounting for 11% and 10%, respectively. Ethereum, Sui, and Solana also had notable contributions.
There was a notable shift compared to the first half of 2023, with Polygon surpassing Ethereum in terms of discontinued titles. While BNB remained the blockchain with the highest number of discontinued games, Polygon experienced a surge due to projects like Sui discontinuing their operations.
One notable case is “Goals,” a high-profile game that secured significant funding but chose to discontinue its integration with blockchain technology.
New Blockchain Games
In the fourth quarter of 2023, the Big List added 65 new blockchain games. Among them, 11% adopted a multichain approach, indicating a continued trend of games integrating with multiple blockchains. In terms of games deploying on a single chain, there was significant growth in Arbitrum, Optimism, Immutable, Ethereum, StarkNet, and Avalanche.
According to a survey conducted by the Blockchain Game Alliance, 19.8% of respondents from blockchain game companies believe that the entry of traditional game studios into web3 gaming will have the most positive impact in 2024.
Hot Take: A Cleanup Year for Blockchain Gaming
Yat Siu, the executive chairman of Animoca Brands, sees the current period as a “cleanup year” for the blockchain gaming industry. Despite the challenges faced in 2023, Siu remains optimistic about the future of blockchain games and envisions a robust year ahead in 2024.
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