Web3 gaming tokens have declined to a market value of $8.83 billion, marking a 69% drop year-over-year amid crypto winter challenges. Despite partnerships like Pi Network with CiDi Games, trading volumes remain low, highlighting a gap between hype and adoption in the GameFi sector.
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Market Cap Decline: Web3 gaming tokens’ value fell 34% in the past month to $8.83 billion, per CoinMarketCap data.
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Short-lived rally in late November boosted capitalization by 7% to near $10 billion with 103% volume surge to $6.1 billion.
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Only a handful of tokens like Game Company (GMRT) gained over 30%, up 142%, while most faced heavier losses, including My Lovely Planet (MLC) down 22%.
Discover the latest on Web3 gaming tokens’ 69% YoY decline to $8.83B amid partnerships failing to lift volumes. Explore GameFi challenges and future outlook in this in-depth analysis.
What is the Current State of Web3 Gaming Tokens Market?
Web3 gaming tokens currently hold a market value of $8.83 billion, reflecting a significant 69% decrease year-over-year and a 34% drop over the past month. This downturn occurs against the backdrop of a prolonged crypto winter, where partnership announcements and platform developments have not translated into sustained trading volumes. The GameFi sector, once a hyped blockchain segment, continues to struggle with maintaining investor interest and real-world adoption.
How Have Recent Partnerships Impacted Web3 Gaming Adoption?
Recent partnerships in the Web3 gaming space aim to bridge the gap between blockchain technology and practical utility, but their effects on market performance remain limited. For instance, Pi Network’s collaboration with CiDi Games, announced on November 27 as reported by Cryptopolitan, seeks to integrate the Pi token as a payment medium for in-game purchases while enhancing blockchain gaming infrastructure. Similarly, EdgeAI Labs partnered with PumpGame—formerly SuiGame—to upgrade its brand and migrate to BNB Chain (BSC), potentially improving scalability and accessibility.
These initiatives demonstrate ongoing innovation, yet they have not offset the broader market decline. According to CoinMarketCap’s end-of-November report, GameFi ranked 16th on DeFiLlama’s narrative tracker, indicating waning influence despite positive inflows in other DeFi areas since mid-2025. Expert analysis from industry observers suggests that while such partnerships foster long-term potential, immediate trading volumes have not surged, underscoring persistent challenges in user engagement and speculative trading dominance.
Statistics from the sector reveal a temporary bullish period at the end of November, where market capitalization rose 7% over two weeks to approach $10 billion, accompanied by a 103% trading volume increase to $6.1 billion. However, a correction on December 1 reversed these gains, dropping the value below $9 billion for the first time in over a year. This volatility highlights the sector’s sensitivity to broader crypto market trends.
Frequently Asked Questions
What Tokens Performed Best in Web3 Gaming During December’s Market Downturn?
A few Web3 gaming tokens bucked the trend with notable gains last month, including Game Company (GMRT) surging 142%, Echelon Prime (PRIME) rising 44.4%, Veracity (VRA) increasing 25.06%, and VisionGame (VISION) up 20.45%. These outliers contrast with the sector’s overall decline, driven by specific project milestones amid widespread losses.
Why Is Investor Sentiment Low in the GameFi Ecosystem?
Sentiment in GameFi remains subdued due to a crypto winter that has cooled venture capital and led to speculative rather than gameplay-focused usage. Conversations on platforms like Crypto Twitter show low enthusiasm levels over the past five years, contributing to at least 27 studio shutdowns between January and October 2025, as noted by industry trackers.
Key Takeaways
- Market Decline Persists: Web3 gaming tokens’ capitalization at $8.83 billion reflects a 69% YoY drop, despite brief rallies.
- Partnerships Offer Hope: Collaborations like Pi Network with CiDi Games aim to boost utility, but volumes stay low.
- Revival Needs Investment: Increased funding and AAA publisher interest could restore relevance to Web3 games.
Conclusion
The Web3 gaming tokens sector faces ongoing challenges with its market value at $8.83 billion, down significantly year-over-year amid a crypto winter that dampens partnership-driven momentum. While innovations from companies like Animoca Brands, including its move into real-world asset tokenization with Rayls, signal potential growth, investor confidence remains fragile. As the industry navigates subdued sentiment and studio closures, strategic developments and institutional adoption could pave the way for renewed vitality in GameFi by bridging hype with tangible adoption.
Here’s the list of crypto games and studios
That shut down in 2025
• Battlebound / Anterris
• Blade of God
• Blast Royale
• Champions Ascension
• Derby Race
• Ember Sword
• Goombles
• JungleXYZ
• Kryptomon
• Hello Monster
• Loot Legends
• Metalcore
• Mystery…— StarPlatinum (@StarPlatinum_) October 30, 2025
