The Big Blockchain Game Reports 31% Web3 Games Discontinued

The recently updated Big Blockchain Game List for January 2024 sheds light on notable trends within the blockchain gaming sector. Out of 911 games currently listed, 334 are live, while 577 remain in various developmental stages. A comparative analysis since the list's inception in 2021 reveals that 31% of the total 1,318 games have been discontinued, amounting to 407 titles due to reasons such as funding challenges and market conditions.

A closer look at the data from the second half of 2023 indicates that 17% of the 162 discontinued games were multichain, reflecting a growing trend of games leveraging multiple blockchains. Furthermore, specific blockchains experienced varying discontinuation rates. BNB led with an 11% discontinuation rate, followed by Polygon at 10%, and Ethereum, Sui, and Solana each registering 6%.

Compared to the first half of 2023, Polygon surpassed Ethereum in terms of discontinued titles by the end of the year. Additionally, while Wemix previously had a notable presence, Sui observed an increased number of game discontinuations.

High-profile exits include Mythical Games' Blankos Block Party, initially acclaimed on the Best Live list, and Goals, which secured significant funding but opted out of blockchain integration. Yet, most ceased projects were smaller ventures from less-experienced teams, often attributing funding and market conditions as primary reasons for their closures.

Introduction of New Blockchain Games

In Q4 2023, the Big List welcomed 65 new games. Of these, 11% have chosen to operate on multiple blockchains. When considering games operating on a single blockchain, Arbitrum led with 9%, followed by Optimism, Immutable, and Ethereum, each at 8%. StarkNet and Avalanche also contributed, each with a 6% adoption rate.

The findings emphasize the evolving nature of web3 gaming. As the sector continues to grow, developers and stakeholders must navigate challenges such as funding and market dynamics. The introduction of new games alongside a significant discontinuation rate underscores the need for strategic planning and adaptability within the blockchain gaming landscape.