BlockBeats news, on March 21, Lily Liu, Chair of the Solana Foundation, stated that blockchain gaming "will not come back." She believes that although the industry once hoped to advance Web3 and the metaverse through on-chain assets and open worlds, the actual performance has fallen far short of expectations.
Solana was once regarded as one of the most promising blockchains for supporting large-scale blockchain games, thanks to its high performance and low costs that enable real-time interaction. However, despite initial attention from projects such as Star Atlas and Stepn, the overall GameFi sector has been in sustained decline since its 2021 peak.
Market perspectives indicate that blockchain games have long relied on token-based incentive models such as "Play-to-Earn," yet lack the genuine gameplay depth and content development needed to attract core players, resulting in poor user retention and insufficient ecosystem sustainability. Institutions including Andreessen Horowitz (a16z), Framework Ventures, and Animoca Brands have invested billions of dollars in this space, but have seen disappointing returns.
However, some companies are still exploring transformation paths; for example, Mythical Games and Gunzilla Games are gradually downplaying blockchain elements, treating them as optional features rather than core mechanisms to enhance user experience and market acceptance.