Web3 Games Encounter a Winter: Project Stagnation, Funding Dilemmas, and Future Solutions

Recently, several highly anticipated Web3 game projects have announced their shutdowns, sparking widespread discussions in the industry about the future of blockchain gaming. From the brief surge in popularity brought by the launch of the blockchain game "MapleStory N," adapted from "MapleStory," to the sudden closures of projects like Ember Sword and Nyan Heroes, the Web3 gaming industry seems to be undergoing a severe test.

Since 2025, there has been a large-scale project halt phenomenon in the Web3 gaming sector. According to statistics, 17 Web3 games have ceased operations this year, including the blockchain ARPG Tatsumeeko, the NFT game Nyan Heroes, and the blockchain FPS Blast Royale. Even the MMORPG project Ember Sword, which had raised over $200 million, suddenly shut down.

The reasons for this situation are mainly as follows:

First of all, the gaming industry itself has a high failure rate. According to research, the mortality rate of mobile games within three years is as high as 83%, while in the Web3 gaming sector, the failure rate is even higher at 93%.

Secondly, the "staged financing" model of Web3 games is difficult to sustain in the current market environment. The significant drop in token prices and lack of investor confidence make it hard for projects to secure subsequent funding.

Third, some projects are suspected of money-making hype, with rough and perfunctory production that disappoints players' expectations. For example, Ember Sword delivered a disappointing game quality after raising a huge amount of funds.

Fourth, the "player asset ownership" promised by Web3 games is difficult to fulfill. After the game is shut down, the NFT assets purchased by players often lose their value and utility.

In the face of these challenges, industry insiders generally believe that Web3 game developers should focus on improving the quality and playability of the games themselves, rather than prematurely introducing tokens or NFTs for monetization. Shiti Manghani, the Chief Operating Officer of Find Satoshi Lab, pointed out that players care more about whether the game is fun, rather than the ownership mechanism of in-game assets.

In the future, Web3 games need to make breakthroughs in the following areas:

1. Return to the essence of gaming, enhance game quality and player experience.
2. Reasonably design economic models to achieve sustainable development
3. Introduce blockchain elements cautiously to avoid excessive hype.
4. Strengthen community building and increase player engagement.
5. Explore innovative gameplay and leverage the advantages of Web3 technology

Only by truly addressing these core issues can Web3 games break out of the current predicament and welcome new development opportunities.