Between 2018 and 2023, 2,127 out of 2,817 Web3 games launched have either failed or are now inactive, an analysis by Coingecko has shown. The failure rate was the highest in 2019 (94.3%) and 2020 (94.4%) while in 2021, 339 out of 738 games failed, translating to a failure rate of 45.9%.
2020 Had the Highest Failure Rate
According to a new analysis by Coingecko, between 2018 and 2023, 2,127 out of 2,817 Web3 games launched have either failed or are now inactive. This means that for every four games launched, three have disappeared. Coingecko’s analysis also shows that during this period, the number of Web3 games that failed averaged 80.8% each year.
As per Coingecko’s data, the failure rate during the five years was the highest in 2019 (94.3%) and 2020 (94.4%). However, in 2021, the year of the last crypto bull run, 339 out of 738 games failed, translating to a failure rate of 45.9%.
In terms of the actual number of failed games, Coingecko’s analysis identifies 2022 as the year with the highest number of dead games with 742. The failure rate in that year stood at 107.1%, meaning it was the only year when the number of failed games was higher than those launched (693).
Meanwhile, the analysis shows that 2023 has the second-highest number of games launched (720), while 2020’s 86 game launches are the least in each of the five years reviewed. The year 2020 recorded the lowest number of dead games in any of the five years with 81.
What is your opinion on this story? Share your thoughts in the comments section below.
