Data Indicates Over 30% of Blockchain Games Projects are Now Defunct
Recent statistics reveal that more than 400 out of around 1,300 blockchain games ventures announced since 2021 have ceased operations or have been completely shelved.
Analysis shows that of the 1,318 blockchain games introduced since 2021, about 407, which is more than 30%, are currently classified as either halted or abandoned. As of January’s latest figures, the catalog includes 911 games, with 334 in active operation and 577 in various stages of development.
The primary factors leading to the termination of these blockchain games include financial hurdles and shifting market dynamics. Notably, many of these discontinued games were smaller projects spearheaded by relatively inexperienced teams with limited funding.
Furthermore, the report highlights that in several cases, developers did not formally announce their discontinuation. Instead, they quietly ceased operations, leaving no prior notification.
Abandoned blockchain games in 2023 | Source: BlockchainGamer.biz
A closer examination of the 162 games discontinued in the second half of 2023 reveals that around 17% were multichain games. Single-chain games also saw significant termination rates. The Binance BNB Chain was the most prevalent platform for developers to abandon their gaming projects, accounting for 11%. This was followed by Polygon at 10%, with Ethereum, Sui, and Solana each experiencing a 6% drop-off rate.
A notable case is the video game “Goals,” which had secured millions in funding during 2022 and 2023. Despite its substantial financial support, Goals has recently opted to discontinue blockchain integration, signifying a major shift in its development direction.
