Solana Foundation president says crypto gaming is dead

Solana Foundation President Lily Liu has declared that crypto gaming is effectively “dead,” a sentiment sparked by Meta’s reported abandonment of its metaverse ambitions after an $80 billion investment. Liu’s statement reflects a broader disillusionment with the sector, which promised to revolutionize gaming through blockchain technology and web3 concepts like digital asset ownership. While Solana was seen as a viable blockchain for gaming due to its speed and low transaction costs, many projects have failed to deliver engaging gameplay, instead relying on unsustainable tokenomics. Despite billions invested by firms like a16z and Animoca Brands, GameFi tokens have significantly declined since 2021. However, some companies like Mythical Games and Gunzilla Games continue to explore blockchain integration, making it optional rather than central to the gaming experience.

(Source：The Block)