ChainPlay has studied returns on all the Web3 gaming investments.
ChainPlay has studied returns on all the Web3 gaming investments.
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93% of Web3 game projects are dead | ChainPlay

  • Posted byby Dean Takahashi
  • Updated
  • 4 min

ChainPlay reported today that 93% of GameFi projects (the fusion of gaming and decentralized finance, or Web3 games) are dead.

But that doesn’t mean that the industry is kaput. Rather, a more complex narrative shows a rollercoaster of growth and setbacks that are common to over-hyped startup/finance bubbles.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.