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Solana Foundation Chair: Blockchain Gaming is 'Dead,' Billions Invested May Be Among Worst Bets

March 21st news: Solana Foundation Chair Lily Liu stated that blockchain gaming "is not coming back." She believes that although the industry had hoped to drive Web3 and metaverse development through on-chain assets and open worlds, its actual performance has fallen far short of expectations. Solana was once considered one of the public chains with the greatest potential to support large-scale blockchain games, leveraging high performance and low costs to enable real-time interaction. However, projects like Star Atlas and Stepn, despite gaining attention at one point, have seen the overall GameFi sector continuously decline since its peak in 2021. Market analysis suggests that blockchain games have long relied on token incentive models like "Play-to-Earn" but lacked the genuine gameplay and content creation capabilities to attract core players, leading to insufficient user retention and ecosystem sustainability. Institutions including Andreessen Horowitz (a16z), Framework Ventures, and Animoca Brands had invested billions into this sector, but the returns have been poor. Nevertheless, some companies are still exploring transformation paths, such as Mythical Games and Gunzilla Games, by gradually downplaying blockchain elements and making them optional features rather than core mechanics, in order to improve user experience and market acceptance.

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