🔽 93% of Web3 Games Are Dead



According to research firm Caladan, the GameFi sector is effectively collapsing, with 93% of projects deemed "dead" and most metrics down by over 90%, despite $12-15 billion invested since 2020.

The peak was in 2022, followed by a crypto winter, the Ronin hack, and capital outflows to AI and other sectors. Even leading projects lost users, for example, Axie Infinity's active users dropped from 2.8 million to around 100,000.

The main issue is tokenomics: investor-focused models collapse when growth slows.
AXS-3.11%
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