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Over 75% of Web3 games ‘failed’ in last five years

<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/187kehf/over_75_of_web3_games_failed_in_last_five_years/"> <img src="https://b.thumbs.redditmedia.com/N-jEvSEdcZWR-SGe3rq8w0UZlZ_Ny3a_573djSKFczU.jpg" alt="Over 75% of Web3 games ‘failed’ in last five years" title="Over 75% of Web3 games ‘failed’ in last five years" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>The “failed” blockchain games are those that have seen their 14-day moving average number of active users down more than 99% from its peak.</p> <p>More than three-quarters of all blockchain games launched in the last five years are dead in the water, according to a recent study from CoinGecko. Out of 2,817 games launched between 2018 and 2023, which were included in the study, only 690 of them still have a somewhat active player base.</p> <p>They define a “failed” Web3 game as one where the 14-day moving average number of active users drops 99% or more from its peak.</p> <p><a href="https://preview.redd.it/5rgblnln0i3c1.png?width=626&format=png&auto=webp&s=a06e373aa0f0b42ac24688754d2c36aec4c6625d"> More than 75% of Web3 games have failed over the last five years. Source: CoinGecko</a></p> <p>While 2021 saw the highest number of blockchain games launched in a single year with 738 games, the following year — marred by major crypto collapses, saw the highest number of games to fizzle out, with 742 failing in a single year.</p> <p>This puts the average failure rate of Web3 games at around 80% for any given year since 2018. </p> <p>Also noted that years of lower failure tended to coincide with the back of bull markets, while higher failure years came toward the start of bear market cycles.</p> <p>CryptoKitties was one of the first Web3 games that gathered hype in late 2017, but its adoption has since fizzled out. Decentraland, The Sandbox and Axie Infinity are among other Web3 games that have launched in the earlier years and are still widely used today. Per recent data, Alien Worlds, Splinterlands and Planet IX had the three highest average unique active wallets used between Jan. 1 and Apr. 22, 2023.</p> <p>While 2022 had the highest number of failed games, 2023 has slowed the trend, with only 507 failed projects as of Nov. 27.</p> </div><!-- SC_ON -->   submitted by   <a href="https://www.reddit.com/user/cointelegraph1"> /u/cointelegraph1 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/187kehf/over_75_of_web3_games_failed_in_last_five_years/">[link]</a></span>   <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/187kehf/over_75_of_web3_games_failed_in_last_five_years/">[comments]</a></span> </td></tr></table>