Study Reveals 80.8% Failure of Web3 Games Launched During 2018-2023
Coingecko analysis reveals that almost 80.8% of Web3 games launched between 2018 and 2023 have either failed or are inactive. The highest failure was recorded in 2019 (94.3%) and 2020 (94.4%), while in 2021, the percentage of failure stood at 45.9%, with 339 out of 738 games failing.
Coingecko Unveils the Massive Failure of Web3 Games
A new analysis by Coingecko reveals that 2,127 out of 2,817 Web3 games launched between 2018 and 2023 have either failed or are inactive. Simply explained, this means that for every four games launched, three have vanished. Coingecko’s analysis also shows that during this period, Web3 games that failed averaged almost 80.8% each year.
Highest Failures Recorded in 2020
The Coingecko data highlights 2019 (94.3%) and 2020 (94.4%) with the highest failure percentages during the five years. However, 339 out of 738 games failed in 2021, the year of the last crypto bull run, translating into a failure rate of 45.9%.
Highest Number of Dead Games Identified in 2022
Coingecko’s further analysis identifies 2022 as the year with the highest number of dead games, at 742 in terms of the actual number of failed games. The failure percentage stands at 107.1% for the year. Simply explained, it is the only year when the number of failed games exceeded those that were launched (693) during the year.
Lowest Number of Dead Games Recorded in 2020
The analysis also shows that the second-highest number of games (720) have been launched in 2023. 86 new games were launched in 2020 and are among the fewest in each of the five years included in the review. The year 2020 recorded the lowest number of dead games (81) in any of the five years.
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