More than 90% of Web3 games failed after $15 billion boom as gamers never showed up: Caladan

Burns Brief

Gaming took 63% of all Web3 venture funding in 2022, but by 2025 its share had fallen to single digits as capital rotated into AI, real-world assets and layer-2 infrastructure Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.