How bleak will the GameFi sector be in 2025? Just look at the data — this year, the crypto gaming ecosystem performed so poorly that it was ridiculous, with many projects shutting down completely. Honestly, seeing these dead games can be quite frustrating. But it’s not over yet — FIFA has surprisingly entered the Web3 gaming space, and this move is quite significant. Projects like Undead are also experimenting with new ideas. So the question is, is 2025 really a painful period for GameFi, or are some people working hard behind the scenes to prepare for the next wave? Looking at the entire ecosystem, the bear market reshuffle is accelerating, but the emergence of new players indicates that there are still people optimistic about gaming. Whether those projects that survive and the big new entrants can lead GameFi out of its predicament remains to be seen based on their future performance.