The Sandbox

Planet

Axie Infinity

Alien

<div class="sg-post-des">
 The “failed” blockchain games are those that have seen their 14-day moving average number of active users down more than 99% from its peak.
</div>
<div class="cointelegraph">
 More than three-quarters of all blockchain games launched in the last five years are dead in the water, according to a recent study from CoinGecko.
 Out of 2,817 games launched between 2018 and 2023, which were included in the study, only 690 of them still have a somewhat active player base.
 CoinGecko defines a “failed” Web3 game as one where the 14-day moving average number of active users drops 99% or more from its peak.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/30/4145b433313f41508ada1e26a7d5a30b.webp">
 <figcaption style="text-align: center;">More than 75% of Web3 games have failed over the last five years. Source: CoinGecko
 </figcaption>
 </figure>
 While 2021 saw the highest number of blockchain <a rel="noopener noreferrer nofollow" title="games" href="https://thebittimes.com/tag/games.html">games</a> launched in a single year with 738 <a rel="noopener noreferrer nofollow" title="games" href="https://thebittimes.com/tag/games.html">games</a>, the following year — marred by major crypto collapses, saw the highest number of <a rel="noopener noreferrer nofollow" title="games" href="https://thebittimes.com/tag/games.html">games</a> to fizzle out, with 742 failing in a single year.
 This puts the average failure rate of Web3 games at around 80% for any given year since 2018, according to CoinGecko.
 CoinGecko noted that <a rel="noopener noreferrer nofollow" title="years" href="https://thebittimes.com/tag/years.html">years</a> of lower failure tended to coincide with the back of bull markets, while higher failure <a rel="noopener noreferrer nofollow" title="years" href="https://thebittimes.com/tag/years.html">years</a> came toward the start of bear market cycles.
 Related: Free-to-play Web3 <a rel="noopener noreferrer nofollow" title="games" href="https://thebittimes.com/tag/games.html">games</a> hold the key to mass adoption — YGG co-founder
 CryptoKitties was one of the first Web3 games that gathered hype in late 2017, but its adoption has since fizzled out. Decentraland, The Sandbox and Axie Infinity are among other Web3 games that have launched in the earlier years and are still widely used today.
 Per recent data, Alien Worlds, Splinterlands and Planet IX had the three highest average unique active wallets used between Jan. 1 and Apr. 22, 2023, according to CoinGecko.
 While 2022 had the highest number of <a rel="noopener noreferrer nofollow" title="failed" href="https://thebittimes.com/tag/failed.html">failed</a> <a rel="noopener noreferrer nofollow" title="games" href="https://thebittimes.com/tag/games.html">games</a>, 2023 has slowed the trend, with only 507 <a rel="noopener noreferrer nofollow" title="failed" href="https://thebittimes.com/tag/failed.html">failed</a> projects as of Nov. 27.
 “The lower failure rate could perhaps indicate a stabilization in the state of web3 gaming,” CoinGecko said.
 Magazine: 65% plunge in Web3 Games in ’23 but ‘real hits’ coming, $26M NFL Rivals NFT: Web3 Gamer
 <template data-name="subscription_form" data-type="crypto_biz"></template>
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/over-75-of-web3-games-failed-in-last-five-years-coingecko-tbt72133.html">https://thebittimes.com/over-75-of-web3-games-failed-in-last-five-years-coingecko-tbt72133.html</a>

Over 75% of Web3 games ‘failed’ in last five years: CoinGecko

TheBitTimes

Other articles published on Nov 30, 2023

Robinhood Enters the UK Market, Cathie Wood Increases Stake

Dogecoin and Tron holders jumping ship, consider new coin: here’s why

Deepmind’s GNoME AI Tool Discovers Materials Beyond Imaginings

Bitcoin ETF Diprediksi Hadir Januari 2024, Harga BTC Targetkan Puncak Baru

dYdX To Unlock $478M Worth Of Tokens, Will Bears Have A Field Day?

These Two Altcoins Should Be On Everyone’s Radar As They Have Solid 10x Potential

Join our free newsletter for daily crypto updates!