Over 75% of Web3 games ‘failed’ in last five years: CoinGecko
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.
CoinGecko defines a “failed” Web3 game as one where the 14-day moving average number of active users drops 99% or more from its peak.

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.
This puts the average failure rate of Web3 games at around 80% for any given year since 2018, according to CoinGecko.
CoinGecko 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.
Related: Free-to-play Web3 games hold the key to mass adoption — YGG co-founder
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, according to CoinGecko.
While 2022 had the highest number of failed games, 2023 has slowed the trend , with only 507 failed projects as of Nov. 27.
“The lower failure rate could perhaps indicate a stabilization in the state of web3 gaming,” CoinGecko said.
Magazine: 65% plunge in Web3 Games in ’23 but ‘real hits’ coming, $26M NFL Rivals NFT: Web3 Gamer
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Heritage Distilling Adopts Crypto Payments
Heritage Distilling Company, Inc. (NASDAQ: CASK) is making a bold foray into the digital economy, becoming one of the first craft spirits producers to implement a formal Cryptocurrency Treasury Reserve Policy. Announced on May 15, the new strategy enables the Washington-based distiller to accept Bitcoin and Dogecoin as payment via its direct-to-consumer (DTC) e-commerce platform while holding these digital assets as part of its broader treasury management plan.

Stablecoins Enter Production Era as Institutions Prioritize Growth Over Cost
Stablecoins are quickly moving from pilot projects to a core part of global payment systems, according to Fireblocks’ newly released “State of Stablecoins 2025” report. The digital asset platform revealed that stablecoin transactions on its network now reach $40 billion per quarter, reflecting surging institutional use and a clear shift from experimentation to full-scale implementation.

xAI Blames Unauthorized Prompt Change for Grok’s Inflammatory Responses on South Africa
Elon Musk’s artificial intelligence startup, xAI, has disclosed that a controversial series of responses generated by its chatbot, Grok, were the result of an unauthorized internal modification.

Judge Torres Denies Ripple and SEC Settlement Motion

Trending news
MoreCrypto prices
More








