ChainThink report, March 21: Lily Liu, Chair of the Solana Foundation, stated that blockchain gaming "will no longer return." She believes that despite initial industry hopes to drive Web3 and the metaverse through on-chain assets and open-world mechanics, actual performance has significantly fallen short of expectations.

Solana was once regarded as one of the most promising public blockchains capable of supporting large-scale blockchain games, leveraging high throughput and low transaction costs to enable real-time interactions. However, projects such as Star Atlas and Stepn, though initially gaining attention, have contributed to a sustained decline in the overall GameFi sector since its peak in 2021.

Market analysts point out that blockchain games have long relied on token incentive models like "Play-to-Earn," yet lack genuine gameplay depth and compelling content creation capabilities, resulting in poor user retention and ecological sustainability. Institutions including Andreessen Horowitz (a16z), Framework Ventures, and Animoca Brands invested billions into the space, but with underwhelming returns.

Nonetheless, some companies are exploring transformation paths—such as Mythical Games and Gunzilla Games—gradually de-emphasizing blockchain elements, treating them as optional features rather than core mechanisms, in order to enhance user experience and market adoption.