The possible potential of crypto gaming has been increasingly recognized in the crypto community in recent years. Nevertheless, the current figures do not quite correspond to expectations. Most blockchain games launched in the last five years have failed.
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3 out of 4 crypto games fail
CoinGecko published a study on November 29th that analyzed the failure rate of Web3 games. The shocking results show that up to 75.5 percent of all Web3 games released in the last five years have unexpectedly failed.
A total of 2,127 Web3 games have been created since 2018. A whopping 2,817 games have now been declared inactive, which just means that the 14-day rolling average of active users is down at least 99 percent from its peak.
In 2021, in the midst of the bull market, most blockchain games were launched. This year, the total increased by 738 games, while the following year – during the ongoing crypto bear market – saw the highest number of games fail with 742 games.
The average annual default rate over the last five years is 80.8 percent.
This year, the number of failed Web3 games is 509, which is a significant decrease from last year. It is a clear reflection of the general boom in the crypto market. “The lower failure rate could indicate a stabilization in the state of Web3 gaming,” CoinGecko said.
Crypto gaming activity in October
From recent times on chain Data has also shown that blockchain gaming activity increased significantly in October. More than 1 million unique wallets were active daily. For most of the rest of the year this was around 750,000 and in September it occasionally exceeded 1 million. This upward trend continued last month and is currently around 1.2 million.
However, this type of games suffers from so-called “bot accounts” that give a somewhat false picture of the actual data.
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