Blockchain gaming has always divided opinion.
Initially, it generated huge excitement – particularly during its 2021 boom – due to its promise of player ownership, web3 economies, and the potential of play-to-earn, especially the earn part.
Since then, the narrative has changed significantly, with play-to-earn becoming a more marginalised feature, to a large extent looked down upon.
Despite this, some self-proclaimed industry protagonists seem to be locked into the thinking that if blockchain games don’t make them money right now, they’re not worth bothering with, although they don’t phrase it quite that way.
One of the good things coming from these headwinds, however, is that the wheat is sorted from the chaff.
Not only is this evident in the numerous web3 games now being forced to throw in the towel due to insufficient funding, or as a consequence of over-promising and under-delivering, it’s also obvious when looking at who persists and who chooses to quit.
While some have said for years that web3 gaming doesn’t have any good gameplay, those prepared to put in the time have found plenty of gems, albeit unpolished one.
So what’s pushed the needle to the point of prominent KOLs rage-quitting the industry now?
Have they just glimpsed the last game they had invested all their hopes in, and realised it wasn’t as good as they’d expected?
In reality, what’s become clear is that many haven’t been in the industry for its long-term disruptive impact. Those now most upset were never bothered with the actual games.
Instead, it seems they simply entered the industry with the expectation of making a lot of quick bucks, and now they’ve realised their strategy has not paid off.
Blockchain games haven’t failed them. They’ve failed blockchain games.
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