Analysis: The rise of Telegram ecosystem games this year has driven the number of accounts on the TON network from about 4 million to 128 million
Odaily Report: While blockchain games did not see mass mainstream adoption in 2024, they made significant progress in gameplay and user acquisition. Joonmo Kwon, a veteran game executive and CEO of Delabs Games, stated: "The Web3 gaming world has made remarkable strides since the rise and subsequent decline of 'Axie Infinity'. While Axie's early success demonstrated the potential of blockchain-based economies, its downfall also revealed the challenges of sustainable token economics and user retention." The biggest advancement in Web3 gaming has been the emergence of games in the Telegram ecosystem, which has nearly 1 billion users. Telegram-based games utilize the TON blockchain, and according to TonStat, the number of accounts on the TON network grew from around 4 million to 128 million in a year. Kwon noted that by mid-2024, the GameFi market was valued at around $17 billion, largely driven by the rise of the Telegram gaming ecosystem. However, despite the increased adoption of Web3 games in 2024, The Block's GMCI gaming index shows that major gaming-related tokens have declined by around 7% year-to-date as of December 18th. The index includes leading game tokens such as BEAM, GALA, and IMX, but excludes TON, which has risen by over 100% this year.
