Web3 Gaming Shakeout: 93% of Projects Are Now Dead as Funding Drops 99%

On April 28, 2026, research firm Caladan reported a severe shakeout in Web3 gaming. Caladan reported that 93% of projects are now effectively dead, tokens have dropped 95% from 2022 peaks, and studio funding has dropped by 93% as quarterly inflows collapsed from $1.6B to $18M. This sharp contraction marks the end of hype-driven Play-to-Earn […] Read The Full Article Web3 Gaming Shakeout: 93% of Projects Are Now Dead as Funding Drops 99% On Coin Edition.