It’s Game Over for Many in Blockchain Gaming
According to Big Blockchain Games List’s latest Second Half 2023 report, the blockchain gaming industry is experiencing a significant shake-up. Data shows that 407 of the 1,322 blockchain games listed so far (31%) have now ceased operations.
In the last six months, 162 games were stopped, or 15% of the total. Of these, 50 were live games and 112 were still in development. Big Blockchain Games noted that 248 games were stopped in the first half of 2023.
Multi-chain games are being powered down
Multi-chain games that can run on various blockchain platforms were most affected. 28 games (17%) were closed in the second half. In the ‘unknown’ category, which includes games whose blockchain connections have not been disclosed, 21 games (13%) were suspended. Single chain games are also closed BNB Chain They lose 18 games (11%), Polygon loses 17 games (10%), Ethereum loses 10 games (6%), and both sui and solana lose 9 games (6%).
One of the highlights from the shutdowns was Mythical Games’ “Blankos Block Party,” which was once on Big Blockchain Games’ Best Live list. The PC game ended in December 2023 but is currently reportedly being renewed for a mobile version in 2024.
Source: List of Major Blockchain Games
From play to pause
The majority of these closures were smaller startups run by teams lacking experience and funding. While funding issues and market conditions are commonly cited as reasons for games being cancelled, most projects ended without official announcements and were understood to have been discontinued due to long periods of inactivity.
Despite this trend of stagnation, the blockchain gaming industry is showing signs of activity and growth in other areas. DappRadar data for the previous month highlighted an increase in both volumes and Unique Active Wallets, indicating a potential uptick. Increased engagement can be attributed to new game launches, seasonal events, or new features that attract crowds.
Contrasting numbers on game closures and spikes in user engagement blockchain game A rapidly evolving segment where survival and success are reserved for the adaptable and well-financed.
So read: Top 10 Games to Gain Immersive Gaming Experience
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Shraddha’s professional journey spans more than five years; During this time, he worked as a financial journalist, providing information about the business world, markets and cryptocurrencies. As a reporter, he placed particular emphasis on learning about market interaction with emerging technologies.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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