When Chain Games Become Version Abandonments
Recently, Nyan Heroes, a star chain game in the Solana ecosystem, announced its shutdown, citing "funding shortages". Upon the announcement, the $NYAN token plummeted 37%, with a market cap of only $5 million, evaporating 99% from its peak.
A year ago, it was a shining new star in the chain game scene—1 million test players, 250,000 Steam wishlists, and $13 million in funding. Now, its market cap is even lower than that of a Meme dog coin that just launched a few days ago.
The fall of Nyan Heroes is not an isolated incident.
The Trend of Chain Game Shutdowns: From Glory to Exit
Blast Royale (Polygon ecosystem), which raised $5 million and focused on P2E battle royale gameplay, announced its shutdown in May 2025.
The Walking Dead: Empires (published by Gala Games), supported by a top-tier TV show IP, ultimately ceased development due to "comprehensive considerations".
The Mystery Society, developed by a former Disney team, raised $3 million and announced a development pause due to "funding shortages" in February 2025.
These projects once shone brightly in the last cycle—VCs flocked to invest, tokens skyrocketed upon launch, and the community FOMOed into entry. But ultimately, their stories are eerily similar: first fundraising, then making promises, and finally lying flat.
The Truth Behind "Funding Shortages"
Interestingly, when these chain games shut down, the official statements were remarkably consistent—"insufficient funds, unable to continue development".
But is it really a lack of money?
Nyan Heroes raised $13 million, while the development cost of the top domestic single-player game "The Legend of Sword and Fairy 7" was 67 million RMB (approximately $10 million).
"Stardew Valley" was developed by one person, with a cost of only $50,000, ultimately selling over 30 million copies.
Clearly, the issue is not "insufficient funds", but rather that the money was not spent on the game.
The speculative gene of "games as a Ponzi scheme" doomed its outcome—when the market cools, tokens drop, and players leave, the project team loses the motivation to continue development.
It's Time to Distill the Genuine
The trend of chain game shutdowns resembles a self-purification of the industry.
Capital can create bubbles in the short term, but it cannot sustain a game ecosystem without real players in the long term. When speculators disperse, perhaps what remains are those who truly want to make games.
