TechFlow News, March 21: According to The Block, Lily Liu, Chair of the Solana Foundation, posted on X last Friday stating, “Blockchain gaming is not coming back.” Liu’s comment followed a post earlier this week on Polymarket, which claimed that Meta—under Mark Zuckerberg—has abandoned its metaverse vision after investing $80 billion. Although Meta’s vision does not explicitly involve blockchain or crypto assets, its strategy shares notable similarities with various Web3 gaming concepts built on blockchain.
From an industry perspective, firms including a16z, Framework Ventures, and Animoca Brands have collectively invested billions of dollars into blockchain gaming. Yet, GameFi token market capitalization has plummeted significantly from its bull-market peak in 2021, and the sector has widely been criticized for over-relying on token incentives rather than delivering authentic gameplay experiences. Nevertheless, some companies continue exploring alternative approaches—for instance, Mythical Games and Gunzilla Games have opted to make blockchain features optional rather than central to the gameplay experience, aiming to attract broader player audiences.
