🔽93% of Web3 games are dead According to research firm Caladan, the GameFi sector is effectively collapsing – 93% of projects are considered "dead," and most metrics have fallen by 90%+, despite $12-15 billion in investment in the sector since 2020. The peak occurred in 2022, followed by the crypto winter, the Ronin hack, and capital flight to AI and other segments. Even top projects have lost their audience – for example, Axie Infinity's active user base has fallen from 2.8 million to ~100,000. The main problem is tokenomics: models focused on investors, not users, collapse when growth slows. $PIXEL