The following article is an op-ed by Daniil Shcherbakov, Co-Founder at TonTon Games.As 2024 comes to an end, the Web3 gaming industry is still at a crossroads. Often touted as the future of gaming, with promises of true freedom for players, it has also become a graveyard for ambition — 75% of projects launched between 2018 and 2023 failed within a year.And as the industry stands on the brink of 2025, hopes are high, but the cracks are hard to ignore. The market is holding its breath, awaiting this year’s statistics. But before we speculate on Web3 gaming’s next chapter, it’s crucial to take a closer look at 2024 — a year that could signal evolution or underscore stagnation. Has the industry begun to adapt and mature, or is it doomed to repeat its mistakes, perpetuating its image as a high-risk gamble cloaked in hype? The Endless Cycle of Rising and Fading Stars One part of the story is that 2024 has indeed added another chapter to the graveyard of failed Web3 gaming projects — even for those initially perceived as trusted and sustainable.Take Dimensionals, for example, a project that initially embraced NFTs but eventually chose to abandon the Web3 model altogether. Or Shrapnel, which was once heralded as a promising venture but has destabilized its development trajectory by internal legal battles and abrupt team changes. Meanwhile, Illuvium, despite its ambitious plans to release three interconnected games simultaneously, is struggling with a core challenge — retaining and engaging players.This is a familiar narrative for Web3. Time and again, the industry has been undermined by recurring pitfalls: uncertain regulatory environments, lackluster user experiences, and poorly conceived economic incentives. And in 2024, many participants in the Web3 gaming sector still believed they could continue to overpromise and underdeliver, focusing more on speculative hype than on genuine entertainment value.That’s why, despite growing recognition of blockchain’s potential in ownership and monetization, the gaming space risks becoming another cautionary tale akin to NFTs, ICOs, and early play-to-earn models. Without fundamental changes, if projects continue to compete only in terms of token and user acquisition, rather than delivering gameplay experiences as compelling as Assassin’s Creed or World of Warcraft, the industry could stagnate further.On a Dark and Gloomy Road, Glimmers of Hope Shine Through But despite its turbulent history, 2024 has marked a potential inflection point for Web3 gaming — a year when innovation started cutting through the noise.Telegram, for example, has moved beyond simplistic gaming models to release games with greater complexity and depth. Examples include DRFT Party, offering an ultimate racing experience; Durov Run, a Subway Surfers-style game with a unique twist — an action-packed, non-stop running experience on Telegram; Catizen, engaging cat-themed social entertainment; and Tons of Dungeons, a treas
Dom. Feb 2nd, 2025
