The Web3 Gaming Industry Seeks Breakthrough from the 'Death Spiral'
Despite an overall market recovery, Web3 games still face severe challenges. Data shows that over 65% of game tokens have fallen more than 95% from their peak, with the average player retention rate being less than 10%. A few successful cases, such as Big Time and Illuvium, have achieved breakthroughs through gameplay innovation, maintaining over 50,000 daily active users. The industry is undergoing a model transformation, shifting from a purely P2E (Play to Earn) approach to a more sustainable F2O (Free to Own) model. Traditional gaming giants are accelerating their layouts, with Ubisoft launching the Champions Tactics blockchain game and Square Enix investing in multiple Web3 game studios. Experts believe that 2024 will be a key turning point for Web3 games, and only truly fun games will ultimately prevail.