Daniil Schroebakov has written an article that is a op-ed.
The Web3 gaming market is at a crossroads as 2024 approaches. 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 In less than a calendar year
As the industry nears 2025, the hopes are high but it is hard to ignore the cracks. Market participants are waiting for this year’s figures.
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. Is the gaming industry maturing and adapting, or doomed it to continue making mistakes that perpetuate its reputation as a high risk gamble wrapped in hype?
Rising and falling stars: The endless cycle
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 as an example. This project initially used NFTs and then switched to abandon Web3 is an entirely new model. Or Shrapnel. Once hailed as a promising project, it hasn’t been able to keep up. destabilized Its development trajectory has been thrown off course by internal legal fights and team changes. Illuvium’s ambitious plan to release three games in a row is not going as planned. with a core challenge — retaining and engaging players.
It is not a new story for Web3. The industry is plagued with recurring problems: unreliable regulatory frameworks, poor user experience, and badly designed economic incentives. Many participants of the Web3 gaming industry still believe that in 2024 they can continue to underdeliver and overpromise, while focusing on hype instead of real entertainment value.
In fact, despite the increasing recognition of blockchain technology’s power in monetization and ownership, gaming risks becoming another cautionary example, similar to NFTs, ICOs and earlier play-to earn models. The gaming industry will stagnate if it continues to focus on user acquisition and tokens, without delivering experiences that are as engaging as World of Warcraft or Assassin’s Cred.
Glimmers of Hope on a Gloomy and Dark Road
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 is one example of a company that has gone beyond simple gaming models. It now releases games with more depth and complexity. 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 treasure for fans of games featuring endless dungeons filled with rewards and traps.
The platform has finally achieved what it should: be immersive, meaningful and engaging.
Ubisoft’s blockchain initiative and PlayStation’s have been a success, showing that the technology is in demand. Ubisoft’s The Champion Tactics The studio has proven that AAA Studios can use technology to give players a true sense of ownership, without compromising on gameplay.
Similarly, PlayStation’s The Grid is Off This is an example of how blockchain technology can be used to enhance the immersion in a game and provide real value, rather than just being a gimmick. These are no small feats — Ubisoft and PlayStation signal that blockchain gaming is edging closer to mainstream acceptance.
The institutional shift towards Web3 games is even more striking. Malaysian Digital Economy Corporation Partnership CARV is an example of new governmental support. These initiatives show that national economies also see Web3 gaming as more than a niche activity, but rather as an opportunity for long-term growth.
The narrative is being changed by this new momentum. Web2 giants, global superapps and governments are all willing to champion Web3 gaming and invest. They clearly understand its potential. Demand is there, evolution is evident, and the industry has finally broken free of the cycle of failure and hype. These aren’t just glimmers of hope — they’re the building blocks of a sustainable future.
Unfortunately, many gamers who came to play for quick cash are now wiser.
As a result, the shift from play to earn models towards play AND earn ones is definitely happening. The shift from play-to-earn to play AND earn didn’t occur overnight, because the publishers just decided they wanted quality projects. The reason is simple: the players have become resistant to poor games that are based solely on token drop incentives.
The message from gamers is clear: They want entertainment and not schemes that drain their pockets or waste their precious time by making speculative promises of earning. Projects that are successful understand the importance of a strong gameplay element, rather than tokenomics.
A second significant development is the way in which players see blockchain assets. Utility is now the most important factor. They are no longer fooled by promises of interoperability and asset ownership. They demand items that genuinely enhance their gaming experience — unique skins, characters, and tools that add tangible value, can be moved between games, or are tradable with other players.
Projects which fail to respond to this demand risk alienating the core audience. Player retention rates are dropping every day. It is clear that gamers have taken control over the future of gaming and are shaping it according to their preferences, regardless of whether some game publishers agree.
Now, the rules are set by players
The good news is that there are also some bad ones. Web3 gaming continues to be at a crossroads. Many projects remain stuck between outdated game models and innovative new designs. There are signs that progress is being made.
Over the next 3–5 years, the sector’s trajectory will be shaped by the success of casual and mobile games that integrate blockchain technology seamlessly and usefully. Leading the charge will be models such as Play-to -Own (PTO) and Create-to -Earn which rewards players for improving games and encourages creativity.
For Web3 to truly compete with Web2 games, it must achieve several important milestones. The first thing to consider is accessibility: the games must be easy-to-use and fun, even for those who are unfamiliar with crypto.
It is important to establish valuable partnerships, both with Web2 leaders and other industry players. This will help build credibility for the sector. Thirdly, this sector needs to navigate the regulatory hurdles with ease, since no amount of engagement from players can make up for lack of security or compliance.
Web3 games must also show why the blockchain is essential in this new world of gaming freedom. Web3 gaming will only be able to reach its full potential if it achieves these goals.
Posted In: Featured, Gaming, Guest Post, Opinion, Web3 Guest Contributor 
Daniil Shcherbakov
Daniil Shcherbakov is the co-founder and mentor of TonTon Games. He has been a successful entrepreneur for many years, launching tech companies like Fibrum, and selling VR headsets across major platforms.
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