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GameFi Industry Faces High Failure Rate And Short Lifespan In 2024

06/12/2024 11:53

According to PANews, a recent analysis by ChainPlay and Storible reveals that the GameFi industry in 2024 is experiencing a high failure rate and short project lifespans. Approximately 93% of GameFi projects are considered failures, with token prices dropping an average of 95% from their historical peaks. The average lifespan of these projects is only four months. Despite these challenges, some venture capitalists, such as Alameda Research, have achieved returns as high as 713.15%. However, 58% of investors have faced significant losses. In 2024, the total funding for GameFi reached $859 million, which, although a decrease from the previous year, saw a 44% increase in the number of funding rounds. This indicates that investors are increasingly focusing on projects with high potential. The report emphasizes the need for the GameFi industry to shift from speculative trends towards sustainable development. It suggests that extending project lifecycles and building value-driven ecosystems are crucial for achieving long-term success.

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