I just looked at the numbers for Web3 gaming and honestly have to say, the picture is pretty bleak. Over 90% of projects failed after all the hype — and this after a $15 billion boom that was supposed to change everything.

The crazy part? The players simply never showed up. Everyone talked about this huge gaming sector in Web3, about play-to-earn, about decentralized worlds — but in the end, it turned out most people didn’t really want that. It was more speculation than genuine interest.

Caladan summarized it quite well: The Web3 gaming segment proved to be way too optimistic. The infrastructure was there, the money was there, but the fundamental demand was missing. Many projects relied too heavily on tokenomics hype and too little on real gameplay quality.

This is an important learning moment for the entire sector for me. Web3 gaming will probably continue, but more realistically. Less vaporware, fewer quick exit scams, more genuine game development. Those building in this space now need to create truly better games — not just better tokenomics.

Interestingly, this also shows that not every technology automatically improves every use case. Web3 gaming had the potential, but without real players, it was just an expensive lesson.