2025 GameFi Reshuffle Accelerates: Web2.5 Games Rise, Native Web3 Games Face Dilemma

【Blockchain Rhythm】The days of the 2025 GameFi track are indeed tough. This year, funding rounds have plummeted by over 55% year-on-year, and many highly anticipated projects have performed poorly after launch, with overall market enthusiasm noticeably waning. However, looking at it from another perspective, things are not that simple.

The most interesting phenomenon is that Web2.5 games are quietly emerging. These games treat blockchain as a pure infrastructure, often skipping the token aspect altogether, and instead focusing heavily on real revenue and user experience. Teams like Fumb Games, Mythical Games, as well as studios like Wemade / Wemix, are still steadily generating substantial income. They each have their own approach—some use blockchain to improve profit margins, some to enhance user stickiness, and others to explore new monetization channels. All of these have tangible business value.

Looking at native Web3 games, while they can generate revenues in the million-dollar range (6-7 figures), their player base is pitifully small, and a large portion of players are bots. Once the reward mechanisms are exhausted, the game’s appeal essentially disappears. Of course, some teams are experimenting with new mechanisms to solve this problem, but progress is currently limited.

The key difference is—Web2.5 studios have already learned how to fully leverage blockchain advantages without misleading users into speculation or making excuses for poor experiences. With the further promotion of stablecoins, small transactions will become more convenient, global payment channels will be smoother, and participation-based incentive systems will be more refined. This trend will only become more evident.