Staggering 75% of Web3 Games Fail in Five Years, Collaborations with Esports Emerge

By: Eliza Bennet

A recent study indicates that over 75% of all blockchain games launched in the past five years have failed, with the criterion for failure being a severe decrease in active users. This staggering report highlights how precarious the Web3 gaming space can be, with only 690 out of 2,817 games launched between 2018 and 2023 having retained an active player base. Conversely, there have been some notable successes in the sector, with games such as Decentraland, The Sandbox, and Axie Infinity still boasting widespread use today.

Interestingly, the years with lower game failure rates appeared to align with back-end bull markets, while higher failure rates coincided with the onset of bear market cycles. However, the trend seems to be slowing as of 2023, with fewer projects failing since this torrential downfall. Some attribute this to a potential stabilization in the state of Web3 gaming.

In other gaming news, Esports giant Team Liquid announced a collaboration with the NFT game Illuvium. As per the announcement, Team Liquid intends to release themed NFTs for Illuvium, advise on game development, and aid in the formation of the game's esports scene.