Over 30% of blockchain games are now abandoned, data shows

Out of more than 1,300 blockchain games that have been announced since 2021, over 400 are now discontinued or canned.

According to data compiled by BlockchainGamer.biz, out of a total of 1,318 blockchain-based games that have been in circulation since 2021, approximately 407, or over 30%, are currently designated as either discontinued or abandoned. As of the latest update in January, the media outlet’s list comprises 911 blockchain-based games, with 334 actively live and 577 in various stages of development.

The primary reasons cited for the cancellation of blockchain-based games were mainly tied to funding challenges and evolving market conditions. However, a majority of the discontinued projects were also characterized as smaller initiatives led by less experienced and under-capitalized teams.

Moreover, in most instances, developers chose not to make any formal announcements at all and simply ceased operations without prior notice, the report notes.

Digging into the specifics of the 162 games discontinued in the latter half of 2023, approximately 17% fell under the multichain category. However, single-chain games also experienced considerable discontinuation rates. According to the report, Binance’s BNB Chain emerged as the most common network witnessing developers abandoning their gaming projects, accounting for 11%, followed by Polygon at 10%. Additionally, Ethereum, Sui, and Solana each saw a 6% discontinuation rate.

Among high-profile games that moved away from blockchain integration was the video game called “Goals,” which had reportedly raised millions of dollars in 2022 and 2023. Despite its substantial financial backing, Goals has decided to part ways with blockchain integration, marking a significant pivot in its development trajectory, according to the report.