According to data from the Big Blockchain Game List, more than 30% of blockchain games announced in 2023 have “died” or ceased to operate. Currently, this list includes a total of 911 games, with 334 games actively running, and 577 games in the development phase.
Out of the 1,318 blockchain games accumulated since the beginning in 2021, a significant 31% have either been abandoned or stopped development. This reflects information about games that have ceased operation or have not continued development. The primary reasons are often financial difficulties and challenging market conditions, with many projects ceasing operations without official announcements.
In the first half of 2023, 17% of the 162 games that had ceased operation were categorized as multi-chain, meaning they integrated with two or more blockchains. Polygon surpassed Ethereum in the ratio of games that ceased operation. BNB and Polygon accounted for 11% and 10% of the games that ceased operation, respectively. Ethereum, Sui, and Solana also had a smaller share.
A noteworthy case is the game “Goals,” which raised hundreds of millions of USD in 2022 and 2023 but stopped integrating blockchain technology, despite significant funding.
In the fourth quarter of 2023, the Big Blockchain Game List recorded 65 new blockchain games. Among these, 11% adopted a multi-chain approach, indicating the ongoing trend of integrating multiple blockchains. Arbitrum showed significant growth, and Ethereum, Immutable, Optimism, StarkNet, and Avalanche also saw substantial increases.
A survey by the Blockchain Game Alliance revealed that 19.8% of participants believed that the entry of traditional companies into the web3 gaming sector would have a positive impact in 2024.
Despite the challenges, Yat Siu, the head of Animoca Brands, remains optimistic about the blockchain gaming industry and envisions a strong year in 2024, marking a “clean-up year” for the industry.