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

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ChainPlay revealed that 93% of GameFi projects are considered dead, with token prices dropping by an average of 95% from their all-time highs. The study analyzed over 3,200 projects and found that GameFi has a high rate of failure, with projects typically lasting only four months. While retail investors have seen average profits of 15%, venture capitalists have had more polarized returns. Despite the decline, there is still enduring interest in the sector with cautious investment in promising projects.

93% of Web3 game projects are dead | ChainPlay