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GameFi: 93% of Projects Dead, $15 Billion Gone. What Went Wrong

The Caladan report (April 2026) found 93% of 3,200 GameFi projects dead, tokens down 95%, Axie Infinity collapsing from 2.7M to 5,500 daily users. Here is…

By Giulia Ferrante

Article overview

The Caladan report (April 2026) found 93% of 3,200 GameFi projects dead, tokens down 95%, Axie Infinity collapsing from 2.7M to 5,500 daily users. Here is…

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