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<p class="is-style-lead">CoinGecko’s study reveals a high failure rate in the Web3 gaming sector, with 75% of games launched in the past five years becoming inactive.</p> 
<p>A recent <a href="https://www.coingecko.com/research/publications/how-many-gamefi-dead?utm_campaign=Data%2BVisualization&amp;utm_medium=social" target="_blank" rel="noopener">CoinGecko</a> study has disclosed that a staggering 2,127 Web3 games, or 75.5% of the total 2,817 launched, have failed in the last five years. This alarming statistic is further accentuated by an average annual failure rate of 80.8% from 2018 to 2023, underscoring the concerning stability of these gaming ventures.</p> 
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   <p lang="en" dir="ltr">Ever wondered how many Web3 games have failed?<br><br>Our study shows that approximately 3 out of 4 Web3 games have become inactive in the five years since the emergence of the GameFi niche.<br><br>Read the full study: <a href="https://t.co/qxcJ979Pky" target="_blank">https://t.co/qxcJ979Pky</a> <a href="https://t.co/qgM2eVjxnB" target="_blank">pic.twitter.com/qgM2eVjxnB</a></p>— CoinGecko (@coingecko) <a href="https://twitter.com/coingecko/status/1729833499543380330?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 29, 2023</a>
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<p>2021 had a lower failure rate of 45.9%, which can be attributed to the bull market. However, the number of failed Web3 games rose to 339, surpassing the figures of 2018​​. The market’s decline continued throughout 2022, which saw the failure numbers more than double, hitting a record annual high of 742 failed games, pushing the failure rate to an unprecedented 107.1%​​.</p> 
<p>As of 2023, 509 Web3 games have failed, accounting for 70.7% of the games launched this year. This decrease in the failure rate might hint at a potential stabilization in the Web3 gaming landscape​​. The overall blockchain <a href="https://crypto.news/web3-games-raised-600m-in-q3-50-less-than-in-2022/">gaming</a> industry still saw <a href="https://dappradar.com/blog/state-of-blockchain-gaming-in-q3-2023" target="_blank" rel="noopener">increased</a> investments in 2023, and the number of daily unique active wallets also increased in the third quarter. It shows that despite a record number of games failing, investors and users are still optimistic about the sector’s potential.&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/bitcoin-retests-key-resistance-gmx-and-inqubeta-bullish/"> Bitcoin targets $40k, GMX and InQubeta bullish </a> </p>

CoinGecko: 75% of web3 games over last five years have failed

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