3 Out of Every 4 Web3 Games Have Met Their Demise: CoinGecko Report Three out of every four Web3 games launched in the past five years have met their demise, presenting a bleak outlook for
GameFi industry. In a recent report,
CoinGecko analyzed the launch and success rates of 2,817 games between 2018 and 2023.
Shockingly, only 690 games managed to maintain a somewhat active player base, while a staggering 2,100 games have ceased operations,
which translates to an alarming annual failure rate of 80.8% for Web3 games during this period.
The failure rate was calculated by comparing the number of failed games to the total number of games launched.
CoinGecko defines a failed Web3 game as one that experiences a 99% drop in active users based on a 14-day moving average from its peak.
The discouraging outlook is surprising considering the initial acclaim Web3 gaming received within the
crypto community, offering users the ability to earn substantial rewards and tangible value from their gaming
experiences.
