In the first quarter of 2025, investment in Web3 games plummeted by 71%, dropping to $91 million, as investor interest shifted towards AI and real-world assets.
Written by: Shiela Bertillo, Bitpinas
Translated by: Felix, PANews
Once hailed as the future of interactive entertainment, Web3 games are now facing a "shutdown wave."
Web3 game content creator and Ronin Network talk show host Tr3vor tweeted about 15 Web3 games announced to be shutting down this year, including "Nyan Heroes," "Mystery Society," and "Blade of God." These games have either suspended operations, shut down, or plan to close in 2025. Additionally, two other games not on the list also announced their closure earlier this year.
2025 Web3 Game Shutdowns
1. Anterris
Anterris is an open-world, third-person creature-collecting role-playing game (RPG) where players can collect 3D creatures similar to Pokémon. It is developed by blockchain game developer Battlebound, known for creating Evaverse.
Anterris has launched on the Monad testnet for players to try out. The testing took place from February 19 to February 23, during which players could also collect NFTs from the testnet.
Reports indicate that Anterris has been tested on Steam, but the official release date has not been announced.
Gameplay:
Anterris is an open-world creature-collecting game where players explore diverse areas to discover and capture wildlife known as "Antera." Each area features unique Antera, encouraging players to explore through land, air, and sea.
Players can form battle teams using captured Antera, each possessing unique spells and ultimate skills. Dungeons offer powerful artifacts that can enhance or modify skills, allowing players to challenge them solo or team up with friends, with teamwork yielding rare items and experience points as rewards.
Reason for Shutdown:
With the closure of its developer Battlebound, this Web3 game has been indefinitely shelved. The developer announced its shutdown after four years of development.
The studio stated that despite their efforts to extend operational time and secure a new round of funding, a lack of funds and "extremely harsh market dynamics" led to its closure.
They mentioned that although the project attracted thousands of participants during recent game testing, its future remains uncertain.
The team referred to the game as being in a "paused" state, with a possibility of restarting if new funding support is obtained.
Anterris developer BattleBound stated: "Despite the recent strong momentum in game development, our lean and motivated team has fought for four years to extend operational time while striving for the next round of funding… Ultimately, like many studios before us, we had to close due to the exceptionally harsh market conditions."
2. Blade of God
Developed by Void Labs, "Blade of God X" (BOGX) is a blockchain-based action role-playing game that introduces a "play-to-train" mechanism, allowing players to influence the training of AI models through in-game actions.
BOGX combines advanced AI agents with blockchain technology to achieve real-time AI development through gameplay. The game is set in a mythological world where gods have fallen and chaos reigns, aiming to transcend traditional gaming by merging narrative, AI, and digital interaction into a unique and immersive experience.
The game has received support from major crypto investors; BOGX raised $6 million last year, aiming to combine blockchain mechanisms with advanced AI.
Gameplay:
Set against a backdrop of Norse mythology, players take on the role of the "Heir," a reborn warrior embarking on a journey in the fiery land of Muspelheim.
As they explore a world connected by the World Tree, they face choices between sacrifice and redemption: whether to use ancient artifacts to influence the fate of the world or seek guidance from deities like Odin and Loki.
Reason for Shutdown:
A former executive of BOGX accused the project of abandoning Web3 development after securing funding in the crypto space. The game's former Chief Marketing Officer Amber Bella claimed that the Web3 development roadmap was abandoned, team salaries were overdue, and promised NFT-related benefits to players were neglected.
Bella also accused the Web2 team of unfairly claiming cash rewards that were supposed to be paid to players using internal accounts. Despite early support from Web3 investors, the game reportedly shifted to purely Web2 development.
3. Blast Royale
Blast Royale is a mobile battle royale game available on iOS and Android. Its white paper emphasizes that the game combines fun and competitive gameplay with blockchain features, allowing players to fully own in-game items such as characters and equipment.
Players can join matches, complete battle passes, participate in tournaments, and earn rewards based on their skills. Additionally, the game features fun mini-games, events, and leaderboards. Players can trade acquired items, join leagues, and even try to become professional players.
The game uses the $NOOB token, which powers the Blast Royale ecosystem, known as the "Blastverse." $NOOB can be used for trading, unlocking features, and granting players rights to participate in game development.
Gameplay:
Players compete in a survival contest, aiming to be the last one standing. They can choose to drop anywhere on the map.
During matches, players need to search for rare chests containing powerful weapons, ammunition, medical kits, armor, and other scattered items. They can also pick up items dropped by other players. However, most collected items will not be retained after the match ends, except for special coins (usable in a larger game world).
Players earn rewards based on their performance in matches—the higher the rank, the greater the rewards. By progressing in the Blast Pass, honor system, and leaderboards, players can earn currency and items that can be used or traded.
Players can also earn trophies based on match rankings and kill counts. Collecting more trophies helps players improve their trophy leaderboard ranking and win special rewards.
Reason for Shutdown:
The developers of Blast Royale announced on their Discord that they will officially cease game development, with servers shutting down on June 30, 2025. In another message, the team stated that this decision was made after trying all other options.
As a farewell gesture, the game will be fully open-sourced starting June 1, allowing community members unrestricted access to, use, modify, and redistribute the game code. The original development team will support any community members interested in continuing the project.
All in-app purchase features have been disabled, and the team has committed to unlocking and distributing all remaining $NOOB, which can still be traded on Aerodrome.
The Blast Royale Discord server will remain open as a community space, and the team encourages players to enjoy the remaining time, explore new characters, and participate in final events and live streams.
4. Champions Ascension
Champions Ascension is a fantasy fighting game set in a gladiatorial style.
The game runs on the Polygon network and allows players to enjoy or experience the full game without needing to own NFTs or connect a wallet, making it a free-to-play game.
Players can buy and sell unique NFT characters and in-game items through the official game marketplace Grand Bazaar or supported third-party platforms.
Last year, the game won the "Best Fighting Game" award at the 2024 Gam3. The game can be accessed through the Champions Ascension website or the Epic Games Store.
Gameplay:
Heroes start as Grunts and gradually ascend to powerful NFTs known as "Eternals," unlocking new skills and earning cryptocurrency rewards.
Combat is strategic and influenced by each hero's family, profession, essence type, and unique body parts. Players can battle in multiplayer PvP modes such as 1v1, 3v3, and free-for-all, as well as explore PvE battles like BOSS fights. The extreme mode offers high-level rewards, but non-Eternals heroes risk permanent death if defeated.
Players can upgrade, craft items, and promote heroes by earning essence. Prime Eternal NFTs provide special benefits, such as daily rewards and rare abilities.
Reason for Shutdown:
Luke Jech, the community and social marketing manager of Rough House Games, announced on their Discord server that the "Champions Ascension" servers, including features like "Imperial Expeditions" and "Dudo," will be temporarily closed as the development team shifts focus to a new project called REACH Labs. This move aims to allocate all resources to REACH, a Web3 publishing platform co-developed by Rough House Games and Overworld.
Although the project is paused, KEYS rewards will still be distributed to eligible players to ensure their efforts in the game continue to be recognized. The developers also assured the community that Champions Ascension has not been canceled but is under reassessment, with further updates to follow after the official release of REACH.
"REACH is another significant step we are taking—a bold project that has the potential to redefine the distribution of games and other fields. While the development and servers of Champions Ascension are paused, the technology we are building will play a key role in shaping its future."
5. Derby Stars and Derby Race
Derby Stars is a blockchain-based horse racing metaverse game built on the Polygon platform. Players can own, breed, train, and trade unique horse NFTs composed of over 10 customizable body parts. Derby Race is a real-time "pick a horse to win" racing game that can be played on Telegram.
Gameplay:
Derby Stars combines a "play-to-earn" mechanism, allowing users to participate in horse racing and enhance their horses' skills, earning cryptocurrency rewards not only through victories but also through training and breeding. The game features a dual-token economy, including governance tokens and utility tokens.
Derby Race offers fast-paced, engaging two-minute game sessions where players can predict and select winning horses to earn rewards.
Reason for Shutdown:
HypeDream CEO Ham Seon-Woo announced in a blog post that Derby Stars and Derby Race have officially closed due to long-term financial difficulties. He noted that the team faced significant setbacks since the Terra collapse in 2022, leading to the loss of their NFT revenue and substantial seed funding.
Despite relaunching on Polygon and later attempting to migrate to Immutable, these projects failed to attract sufficient investment or achieve user growth, ultimately leading to the decision to terminate all services.
6. Goombles
Goombles is a 3D tower defense game designed to bridge the gap between Web2 and Web3 through gaming and physical products. The game is built on the Cardano blockchain and features collectible candy-themed characters that serve as exclusive privilege passes.
Although Goombles is not a "play-to-earn" game, it enhances the gaming experience using blockchain technology, providing surprises and rewards through ownership of different types of Goombles NFTs.
Gameplay:
Goombles is a tower defense game where players defend their base in the candy-themed world of Sweetopia by strategically placing towers and controlling mechs to fend off cunning enemies known as "Sours."
Players start with a mech NFT avatar and use it along with upgradeable towers to slow down, attack, and progress through single-player adventures, player-versus-player battles, and team competitions.
Reason for Shutdown:
Goombles shared a screenshot of an announcement on the X platform, stating that after more than two years of development, the team has decided to cease game development. Although the game launched in 2024 and had 339 players install it, its activity level was insufficient to support further development.
The developers pointed out that while development has stopped, the servers will continue to run, allowing players to enjoy the game.
7. Jungle
Jungle is a Web3 game publisher focused on mobile-first, community-driven, and blockchain-powered hybrid games.
Its first game, "For The Win" (FTW), is a mobile shooting game that reportedly surpassed 100,000 downloads in preliminary testing in Latin America and plans to expand globally.
Reason for Shutdown:
Grail.ETH posted a screenshot of an announcement on X stating that Jungle will stop all Web3 development and focus on developing a completely free mobile game.
The statement noted that after actively engaging with the community through game nights, tournaments, and NFT sales for a year, the team decided to prioritize project sustainability by moving all development work off-chain and halting Web3 integration.
8. Kryptomon
Kryptomon is a Web3 mobile MMORPG where players can collect, breed, train, and battle unique NFT creatures called Kryptomon.
In 2023, the Philippines-led social gaming platform Playdex launched a rental market for Kryptomon: Genesis, allowing players to rent Kryptomon NFTs for just 1 peso (Philippine currency) per day.
Gameplay:
Kryptomon: Genesis is a blockchain-based Web3 RPG set in the Kogaea metaverse, where players take on the role of "trainers," exploring the world, completing quests, and battling using NFT-based digital creatures called "Kryptomon." The game's core blockchain features include NFT ownership, a play-to-earn mechanism (players can earn $KMON token rewards), and secure digital asset management enabled by Web3 integration.
To start playing, users need three Kryptomon NFTs, which can now be rented through Playdex for as little as 1 peso per day. These rented assets can also be used in upcoming tournaments on the Playdex GameHub, giving players a chance to compete for leaderboard rewards and additional prizes.
Reason for Shutdown:
In a post on X, Tr3vor shared a screenshot of a message from the Kryptomon (KMON) Discord community, indicating that the game's development has been put on hold due to a lack of funds.
According to market news, the team has exhausted its resources and is currently seeking new funding or potential buyers to restart the project.
9. Loot Legends
Loot Legends is a free mobile dungeon exploration game developed by HYCHAIN, available for download on the App Store and Google Play. The game features over 10 chapters, 200 dungeon levels, and more than 1,500 weapons and armor items.
The game uses various in-game currencies such as diamonds, gold coins, and honor medals, operating its economy around $TOPIA. Players can earn $TOPIA through gameplay and use it to purchase premium items. The game also includes a marketplace called "The Outpost," where players can trade in-game items as digital collectibles.
Gameplay:
In "Loot Legends," players immerse themselves in a rogue-like dungeon exploration game, where each adventure is a new experience.
They will explore over 10 chapters and more than 200 meticulously crafted dungeon levels, battling monsters, avoiding traps, and defeating powerful bosses. Along the way, players can collect valuable loot, such as weapons, armor, and special items, which can be upgraded or crafted to enhance their combat abilities.
The game features both single-player and multiplayer modes, including guilds, team dungeons, and PvP challenges. It combines action, strategy, and treasure-hunting elements to provide a fast-paced and rewarding gaming experience.
Reason for Shutdown:
On February 28, 2025, HYCHAIN announced it would close its game publishing division to focus entirely on developing its flagship gaming platform, HYTOPIA.
This decision marks the end of HYCHAIN's publishing business, which included "Loot Legends" and "Dragon Legends." According to the company, this move aims to streamline operations and concentrate resources on HYTOPIA, as the company believes this project has greater long-term potential.
"Loot Legends" is a Web2 game acquired and migrated to the Web3 platform by HYCHAIN, which will continue to operate but will no longer receive any updates. The game previously attracted over 25,000 active players and developed a loyal community.
10. MetalCore
MetalCore is a mech-based combat game emphasizing intense strategic multiplayer battles, developed by Studio 369. The game combines first-person and third-person shooting elements with crafting and vehicle manufacturing features.
The game is currently in early access on the Epic Games platform. MetalCore is developed using Unreal Engine 5 and supports cooperative and competitive multiplayer modes. Season 1, launching on September 12, 2024, introduces new MetalPunks themes, leaderboards, and tournaments.
Gameplay:
MetalCore is a free-to-play post-apocalyptic blockchain massive multiplayer online game that combines first-person shooter gameplay with large-scale PvE and PvP battles. Players can fight for one of three factions using customizable war machines such as mechs, tanks, and jets, earning NFT-based in-game assets and ultimately participating in a dual-token economy consisting of governance tokens (MTP) and utility tokens (FAB).
MetalCore was initially built on Polygon based on Immutable X's zkEVM to enable blockchain integration, including NFT ownership and item trading. It is reported that MetalCore is migrating its blockchain infrastructure to Solana to enhance scalability and performance.
Reason for Shutdown:
According to Tr3vor, the MetalCore developers have not released an official statement, but "the game seems to have been abandoned. There has been no statement addressing external speculation."
In MetalCore's latest post on X, it thanked players for participating in its Battlegrounds event and announced that its servers and Discord channel would temporarily go offline to implement significant game changes. While they assured the community that they would return soon, there have been no further updates from the account since March.
11. Mystery Society
Mystery Society is a Web3 social deduction game developed by Great Big Beautiful Tomorrow. The studio is led by former Disney and Universal Pictures executive Chris Heatherly. The game emphasizes teamwork and strategic discussion.
Although development is currently paused, the game was previously playable on desktop via Immutable Passport or downloadable from the Google Play Store.
Gameplay:
Players take on the roles of family members in a haunted castle, some of whom secretly play as impostors. While everyone works to complete challenges, the impostors create chaos.
The core gameplay revolves around deduction and deception, where players hold meetings and vote to eliminate suspected impostors, blending strategy, social interaction, and teamwork to create a suspenseful and entertaining experience.
Reason for Shutdown:
Mystery Society announced the pause in development in a post on X on February 25, 2025, citing challenges in the current Web3 gaming industry that make it difficult to secure funding. The plans for the $MYSTRY token have now been indefinitely shelved, and players who purchased in-game gems will receive refunds.
While the game will temporarily remain online, the team is exploring the possibility of relaunching the game on Steam without Web3 elements and is open to collaborating with publishers from either Web2 or Web3.
12. Nyan Heroes
Nyan Heroes is a free, Solana-based hero shooter developed by 9 Lives Interactive, inspired by games like Overwatch. Players control cats piloting mechs known as "Guardians," each with unique abilities and customizable gear.
The associated NYAN token is set to launch in May 2024 and can be earned through play-to-earn airdrop events, used to unlock rewards, pay fees, rent assets, and participate in governance.
Gameplay:
Nyan Heroes is a shooter game where players control cats piloting powerful robots. Each cat has its own style and skills, while the robots are categorized into different tiers with special abilities.
Players can upgrade and customize their robots using attachments. The game features fast-paced, agile action and offers various game modes for a rich and fun combat experience.
Reason for Shutdown:
Despite attracting over 1 million players during four Pre-Alpha tests on Epic and Steam platforms, Nyan Heroes announced its closure due to funding shortages.
Developer 9 Lives Interactive stated that despite discussions regarding publishing, funding, and acquisition, securing funds proved difficult.
While there remains hope for the studio or IP to be acquired, the future of the game remains uncertain.
Nyan Heroes stated: "Despite our achievements and discussions about publishing, new investments, funding, and acquisitions, we have failed to secure the necessary funds to complete the game. This is not the outcome we hoped for. The entire industry is in a tough spot, and Nyan Heroes regrets to announce its closure."
13. RoboKiden
RoboKiden is a fast-paced team action game that combines third-person shooting, cooperative gameplay, and MOBA-like strategic elements, featuring numerous characters, quirky weapons, and robots. The game supports cross-platform multiplayer and can be played on PC, PS5, Switch, and Xbox Series X, providing an intense and strategic robot combat experience.
Gameplay:
RoboKiden blends team collaboration, strategic use, and diverse weaponry, with each player controlling their unique character in battles that typically last around 10 minutes.
Players can choose unique characters, use various cool firearms and powerful robots, and compete for key points on the map.
Reason for Shutdown:
Although the developers have not explicitly stated that the game has shut down, there have been no updates since a summary report about a smart contract hack was posted on their X account last February.
On December 25, 2024, a vulnerability in the team-owned smart contract on Avalanche allowed attackers to steal 38.7 million $KIDEN tokens. The vulnerability stemmed from a lack of ownership checks in the contract's initialization function. The attackers exchanged the stolen tokens for $WAVAX and transferred the funds to their wallets.
According to RoboKiden, as the price of $KIDEN plummeted, three buyers purchased the stolen tokens at a low price and transferred them to MEXC, complicating recovery efforts. In response, RoboKiden withdrew liquidity from decentralized exchanges, warned the community, and began collaborating with exchanges and law enforcement for an investigation.
The team noted that this attack significantly harmed the token's stability and the team's resources.
14. Rumble Kong League
Rumble Kong League is a Web3-based three-on-three arcade basketball game that combines fast-paced, exaggerated basketball action with blockchain technology and NFTs.
Set in the city of Aslos, players can unlock rewards by exploring quests, challenges, and mini-games while progressing through the league.
The game is available on the Google Play Store and Apple App Store. It is also one of the games developed on the Ronin platform.
Gameplay:
Players can own or rent unique Kong NFTs and use special skills, cool dunks, and strategic moves in short, thrilling matches.
The core gameplay is driven by AI but still influenced by player input, ensuring dynamic, skill-based competition. The game also features a play-to-earn system, allowing players to earn in-game rewards that may be exchanged for real-world currency.
Reason for Shutdown:
Although the developers have not made an official statement, Ronin talk show host StarPlatinum expressed disappointment over the failure of Rumble Kong League, noting that despite the project being highly anticipated for years, including the launch of NFTs and support from celebrities like Stephen Curry, it ultimately failed to meet expectations.
The team behind the game later informed the community that they were "starting from scratch," had stopped paying administrators two months ago, and now seem to have abandoned the project, possibly selling it to a company in Brazil.
15. Tatsumeeko
Tatsumeeko is a Web3 role-playing game integrated with Discord, also available on iOS, Android, and web platforms.
In September 2024, the studio behind the game, Tatsu Works, announced a migration from IMX and Solana to the Ronin network.
Gameplay:
The gameplay experience of Tatsumeeko centers around loot, team growth, and community building.
Set in the continent of Steyria, players take on the role of "otherworldly visitors" arriving in a tumultuous peace era where modern technology collides with ancient mythology. The game features a hybrid team system, allowing players to customize their main character and form a party, with each companion having unique growth paths and equipment.
Combat is turn-based and automatic, requiring players to devise strategies against different enemy teams. In addition to combat, Tatsumeeko includes life skills activities such as fishing, farming, and pet care, appealing to players who prefer non-combat activities. Players can also acquire private "Pocket Dimensions" for personal housing construction and pet interaction.
Reason for Shutdown:
In a blog post, Tatsu Works announced the official cessation of development for "Tatsumeeko: Lumina Fates," stating that they faced challenges in launching a sustainable product that meets community expectations. Despite multiple playtests and high community engagement, the team felt the game lacked the core vision and confidence to continue.
They stated that this decision reflects Tatsu's return to its roots of developing games for online communities like Discord. The announcement also emphasized that their next project, "Project: Wander," will launch directly within these social spaces, focusing on fast, interactive, and community-driven gameplay.
Tatsu also assured holders of Meekolony Pass and Aethereal Parcels that their assets will remain useful in the upcoming projects.
16. The Walking Dead: Empires
The Walking Dead: Empires is a blockchain-based survival massive multiplayer online role-playing game set in the universe of the popular AMC television series. Developed by Ember Entertainment and supported by Gala Games, the game combines classic survival mechanics with NFT-based ownership.
The game features NFT land ownership, providing gameplay advantages such as resource boosts and additional defenses, granting players the honor of having a place in the game world.
Gameplay:
In "The Walking Dead: Empires," players can choose a hero, whether a regular survivor or an NFT-based character, and engage in survival gameplay that includes scavenging, crafting, building, and defending their base.
Its main features include resource collection, player battles, and NFT integration to enhance the gaming experience. Although NFTs can provide advantages, the game can be fully enjoyed without them, aiming to attract both traditional and Web3 players.
Reason for Shutdown:
Gala Games announced that it will shut down "The Walking Dead: Empires" on July 31, 2025, marking the end of over three years of development and more than a year of public testing for the project. This decision is part of a strategic adjustment by the company to refocus on the broader Gala Games ecosystem.
Players holding in-game NFTs will receive alternative NFTs with equivalent functions in other Gala Games. A redemption system is in development, with more details to be announced soon.
However, Gala Games has not specified the exact details of the NFT redemption process, leaving uncertainty about how the alternative NFTs will match the value and functionality of the original assets.
17. Valeria: Land Before the War
Valeria Studios is a Web3 game studio dedicated to creating blockchain-based games where players can own, trade in-game assets, and profit from them.
Its flagship game "Valeria: Land Before the War" allows players to use VAL tokens to purchase items and participate in economic activities within the game.
Gameplay:
"Valeria: Land Before the War" is a real-time strategy mobile game set to be released on October 4, 2024, for iOS and Android platforms.
Players can unlock heroes, weapons, and NFT items through various game modes, including dungeons, story mode, faction battles, PvP, and tournaments. The game is launched on the XAI network.
Reason for Shutdown:
Valeria Games announced on X that they have exhausted their funds and will pause the development and support of their mobile game and trading card game (TCG).
"For now, we will temporarily keep the game running while seeking investors or potential buyers. If we find the right partner to help us realize our vision for this mobile game and trading card game (TCG), we will do our utmost to achieve it. But for now, the LOV TGE plan is indefinitely shelved."
Current State of the Web3 Gaming Industry
In a recent DappRadar report, Web3 gaming investments plummeted by 71% in the first quarter of 2025, dropping to $91 million, as investor interest shifted towards AI and real-world assets. The user base also saw a 6% quarter-over-quarter decline, with 5.8 million daily active unique wallets.
Additionally, a report from Footprint Analytics earlier this year noted that despite strong performance in the broader crypto market, the Web3 gaming sector experienced a sharp decline in January 2025, with market capitalization falling by 19.3% to $22.3 billion and trading volume decreasing by 12.4%, attributed to platform consolidation, declining investor interest, and competition among chains like Wax, opBNB, and Aptos.
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