30% OF 2023’S BLOCKCHAIN GAMES DECLARED INACTIVE 

2023 was a challenging year for blockchain games, with over 30% of those announced now reported as discontinued or canceled, according to data from the Big Blockchain Game List. This list, updated as of January 2024, shows 911 games, of which 334 are live and 577 are in development.

Significant Discontinuation of Blockchain Games

Out of the 1,318 blockchain games listed since 2021, a substantial 31% (407 games) are now considered discontinued or abandoned. This status indicates either formal cancellation announcements or a lack of activity over an extended period. The primary reasons cited for these discontinuations were funding difficulties and adverse market conditions during the crypto winter. Notably, many projects ceased operations without formal announcements.

H2 of 2023 saw 17% of the 162 discontinued games labeled as multichain, indicating a rise in games compatible with multiple blockchains. BNB and Polygon were the leading single blockchains for discontinued games, accounting for 11% and 10%, respectively. Ethereum, Sui, and Solana also had significant numbers of discontinued games. Polygon, in particular, saw an increase in discontinued titles compared to H1 2023, overtaking Ethereum. One high-profile case was “Goals,” which, despite securing substantial funding, decided to discontinue its blockchain integration.

New Blockchain Games in Q4 2023

The Big List added 65 new blockchain games in the last quarter of 2023. Of these, 11% were multichain, continuing the trend of games incorporating multiple blockchains. Single-chain growth was most notable in Arbitrum (9%), followed by Optimism, Immutable, and Ethereum (8% each), and StarkNet and Avalanche (6% each).

Industry Perspectives and Future Outlook

A survey by the Blockchain Game Alliance involving 526 blockchain game companies revealed that 19.8% of respondents believe the entry of traditional game studios into web3 gaming will positively impact 2024. Yat Siu, executive chairman of Animoca Brands, referred to 2023 as a “cleanup year” for the industry. Despite the setbacks, Siu remains optimistic about the future of blockchain games, anticipating a strong year in 2024.

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