Web3 games that rose and failed in 2023
At least three quarters of web3 games have entirely failed, according to researchers at CoinGecko, who found that a stunning 2,127 abandoned or inactive web3 games have launched over the past six years. CoinGecko used Footprint Analytics’ data for its study. It defined a failed game as one whose activity had declined by more than 99% since its peak. In 2018, crypto founders launched a total of 422 games. Within 12 months, 307 of those had failed. In 2019 and 2020, failure rates for web3 games declined to abysmal annual lows of 94%. Unfortunately, this year is faring no better. 509 out of 720 games launched in 2023 have already failed — representing a 71% failure rate. Below is a list of some failed web3 games. All of this assumes, of course, that web3 even exists beyond a marketing buzzword. You don’t own “web3.” The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label. Know what you’re getting into… ...