Over 30% of blockchain games discontinued in 2023: Report

San Francisco, Jan 15 (SocialNews.XYZ) More than 30 per cent of blockchain games were discontinued or canned in 2023, according to a report.

According to data compiled by BlockchainGamer.biz, out of the total of 1,318 blockchain games that have been announced since 2021 -- 31 per cent or 407 games -- are now discontinued or canned.

"This means that either the developer has announced the project was cancelled or that there has been prolonged inactivity," the report said.

As of January this year, the list consists of 911 games, of which 334 are live and 577 are in development.

The primary reasons given for the cancellation of blockchain-based games were funding constraints and changing market conditions. However, the majority of the cancelled projects were smaller initiatives led by less experienced and underfunded teams.

When it comes to the 162 games that were discontinued in H2 2023, roughly 17 per cent were classified as multichain. However, single-chain games also had high discontinuation rates.

According to the report, Binance's BNB Chain was the most common network where developers abandoned their gaming projects, accounting for 11 per cent, followed by Polygon with 10 per cent. Furthermore, Ethereum, Sui, and Solana each experienced a 6 per cent discontinuation rate.

One of the high-profile games that has recently been discontinued is 'Goals'. This game managed to raise an impressive $15 million in a seed round in 2022 and an additional $40 million in 2023. Unfortunately, the game has announced that it will no longer be integrating blockchain technology, the report mentioned.

Source: IANS