According to a recent report, the blockchain gaming industry is seeing a significant shakeout as many games are shutting down. Out of the 1,322 blockchain games ever listed, 407 have ceased operations, accounting for 31% of the total. Over the past six months, 162 games, or 15% of the total, have been discontinued. Of these, 50 were live games, while 112 were still in development. Big Blockchain Games noted that 248 games were discontinued in the first half of 2023.
The shutdowns have affected various types of blockchain games. Multichain games, which could operate across different blockchain platforms, were hit the hardest, with 28 games shutting down. The “unknown” category, which includes games with undisclosed blockchain affiliations, saw 21 games cease operations. Single-chain games also saw closures, with BNB Chain losing 18 games, Polygon losing 17 games, Ethereum losing 10 games, and both Sui and Solana seeing 9 games go under.
While funding issues and market conditions were commonly cited reasons for game cancellations, many projects simply faded out without formal announcements due to extended inactivity. Most of the shutdowns were smaller ventures led by teams lacking experience and funding.
However, despite the trend of discontinuation, the blockchain gaming sector still shows signs of activity and growth in other areas. Recent data indicates a surge in both volumes and unique active wallets, suggesting increased user engagement. This could be attributed to new game launches, seasonal events, or the introduction of new features.
Overall, the blockchain gaming industry is rapidly evolving, with survival and success being reserved for the adaptable and well-funded. Despite the shutdowns, the potential for growth and innovation in blockchain gaming remains strong.
The source of the article is from the blog oinegro.com.br