$12b+ went into web3 gaming. 93% of these projects are now dead

ahboyashreads (@ahboyashreads), Apr 21, 2026, 14:05 UTC

$12b+ went into web3 gaming. 93% of these projects are now dead Failure mechanisms • Pre-product capitalisation • Metaverse vaporware • Unsustainable tokenomics • Corporate governance Failure • Perpetual development https://docsend.com/view/2wkvgu9zkmj9hmf3 https://x.com/caladanxyz/status/2046156497504080125?s=20

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