This report delves into the deep reasons behind the underperformance of Web3 games in the 2024 bull market, revealing significant progress in the industry from a surge in user numbers to the entry of traditional gaming giants, as well as the transformation process seeking breakthroughs through innovative paths such as social platform integration and AI empowerment.

In October, driven by the surge in Bitcoin, the market capitalization of tokens in the Web3 gaming industry steadily increased.