Announced Blockchain Games in 2023: Over 30% Discontinued or Canceled

More than thirty percent of blockchain games that were officially declared available in 2023 have reportedly been discontinued or canceled, as reported by CryptoPotato, utilizing data from the Big Blockchain Game List. The list comprises 911 games as of January 2024, of which 334 are presently operational and 577 are still under development. A substantial 31%, or 407 games, of the 1,318 blockchain games that have been compiled since the inception of the initiative in 2021 are presently classified as discontinued or abandoned. This categorization represents official declarations regarding the termination of projects or extended periods of inactivity. The reasons most frequently cited for discontinuation were financial constraints and market conditions that emerged in the wake of the cryptocurrency winter.

17% of the 162 discontinued games in the second half of 2023 were classified as multichain, reflecting the increasing trend of games integrating with two or more blockchains. Upon conducting an analysis of discontinued titles that utilized singular blockchains, BNB and Polygon emerged as the leading contenders, contributing 10% and 11%, respectively. Solana, Ethereum, and Sui each contributed significantly 6%. A significant change took place in comparison to the H1 2023 update, with Polygon surpassing Ethereum in terms of the percentage of discontinued titles. Although BNB continued to be the blockchain with the highest number of games being discontinued, Polygon experienced a surge, which was partially attributable to the increased number of games withdrawn from projects such as Sui; in fact, it surpassed Wemix in terms of discontinuations.

The Big List incorporated 65 new blockchain titles in the fourth quarter of 2023. Out of the total, 11% adopted the multichain approach, which indicates that the integration of games with multiple blockchains is an ongoing trend. With respect to the deployment of games on a solitary blockchain, Arbitrum witnessed the most substantial expansion (9%), with Optimism, Immutable, and Ethereum each following suit at 8%, while StarkNet and Avalanche each increased by 6%. A significant proportion of respondents (19.8%) in a survey of 526 blockchain game company representatives conducted by the Blockchain Game Alliance held the view that the foray of conventional game studios into the realm of web3 gaming would yield the most favorable consequences in 2024. According to Yat Siu, the executive chairman of Animoca Brands, the blockchain gaming industry is undergoing a "cleanup year" at present. Siu, who maintains a steadfast conviction regarding blockchain games, conveyed a sense of optimism during an interview with GamesBeat, predicting a prosperous year in 2024 notwithstanding the obstacles encountered in 2023.