The Delphi Digital team wrapped up the year with a breakdown of the GameFi sector. Overall investment volume fell more than 55% from 2024 levels, high-profile launches underperformed, and player engagement cooled off noticeably.
The attached chart tracks quarterly funding and deal counts starting from early 2023. Back then, quarters regularly saw up to $500 million in funding and more than 60 deals. By the end of 2025, those numbers settled in the $80–90 million range with fewer than 15 deals per quarter.
Developers Shift Toward Web2.5
Many studios now lean toward projects where blockchain stays in the background as pure infrastructure and doesn’t push tokens on players. This lets them compete head-on with traditional games for actual player spending.
Fumb Games, Mythical Games, and the Wemade/Wemix ecosystem keep pulling in solid revenue. They use blockchain to boost margins, improve retention, and unlock new payment streams.
Pure Web3 games still have a limited audience with a heavy bot presence — activity tends to fade fast, though some teams are already testing fresh mechanics to tackle the issue.
The Role of Stablecoins
Analysts point out that wider stablecoin adoption makes microtransactions, cross-border payments, and engagement rewards far more practical and affordable. Web2.5 projects get all these upsides without forcing players into token trading or wrestling with clunky wallet interfaces.
This post is for informational purposes only and does not constitute advertising or investment advice. Please do your own research before making any decisions.
