Something Went Wrong in the World of Decentralized Games: 3 out of 4 GameFi Projects Failed

Now it’s hard to say why people didn’t believe in the games. After all, what could be better than playing and also getting real money or valuable virtual things for it.

Most of the apps that used to be trending are now in a “lethargic sleep” because players have lost interest in the industry.

It turns out that more than 75% of games in the GameFi sector are now “frozen” due to the fact that they lack user attention. Since 2018, about 2,800 gaming applications have appeared in the Web3 world, and 2,127 of them no longer exist. In fact, 3 out of 4 gaming services can now be considered history.

And the glorious history of GameFi began with CryptoKitties. In this game you had to buy, breed and trade unique digital kittens, each of which had its own unique properties.

According to data from the Ethereum blockchain, about 56,000 transactions have been made in the game over the past 30 days. In November, there was increased user activity, and sales reached $4. However, the app has experienced some slowdown in growth, losing 48.79% of its transaction volume over the past few months.

What am I driving at? 

It seems to me that the GameFi industry is simply ahead of its time and people are not yet ready for such changes. Existing projects may also become a thing of the past, and new ones will take their place, but no one knows for sure.

Well, we, friends, are moving on, and many new products await us in the Meta Force Metaverse, and in our Game zone as well, which is scheduled for release in 2024. 

#CryptoKitties #NFT #Ethereum #Games #Blockchain #DeFi #GameFi