Report: A Decline of 65% in Web3 Games Launched Online in 2023

The recent report from the blockchain game accelerator Game7 reveals that only 223 Web3 games have been released so far in 2023. This represents a 65% decrease compared to 2022, which had 640 games, and about a 73% reduction compared to 2021, which saw 811 games. The APAC region holds the largest share of Web3 development teams.

In response to this, Robbie Ferguson, the co-founder and president of Immutable, believes that many outstanding Web3 games are about to be launched, but it requires patience. Recently, there has been a significant increase in investment in Web3 games, and developers are focusing on creating excellent popular games. He also revealed that the financing scale of the Web3 gaming industry has been around $15 billion in the past three years, with the majority of financing transactions concentrated in 2022.

Yield Guild Games co-founder Gabby Dizon analyzes that in 2024, most Web3 games may transition from a play-to-earn model to a completely free model to attract more players. Dizon explains that this shift to a free gaming model is part of a broader effort by Web3 game developers to prioritize gameplay over token economics. In the coming months, we can expect to see more high-quality games like Shrapnel, Phantom Galaxies, and others.

The founder of the Solana NFT trading market Tensor believes that despite many well-known Web2 brands joining the Web3 industry, 99% of the value in the Web3 network will be generated by native network startups.