Solana Foundation Chair Lily Liu: Blockchain gaming is dead and will not return

CycleProphet · 2026-03-21T00:56:11+00:00

Solana Foundation Chair Lily Liu stated that the outlook for blockchain gaming is concerning, relating to Meta's metaverse investments. Despite substantial capital inflows into the sector, the GameFi market has significantly contracted, with most projects relying on token incentives and lacking genuine gameplay experiences. However, some companies are still exploring integrating blockchain as an optional feature to attract more players.

CycleProphet

2026-03-21 00:56:11

Abstract generation in progress

Deep Tide TechFlow News, March 21 — According to The Block, Lily Liu, Chairwoman of the Solana Foundation, stated on the X platform last Friday that “blockchain gaming will not come back.” Liu’s comments were prompted by a post earlier this week on Polymarket, which indicated that Meta, led by Mark Zuckerberg, is abandoning its metaverse vision after investing $80 billion. Although Meta’s vision does not explicitly include blockchain or cryptocurrencies, its strategy shares similarities with various blockchain-based Web3 gaming concepts.

From the industry perspective, institutions like a16z, Framework Ventures, and Animoca Brands have invested billions in blockchain gaming. However, the market capitalization of GameFi tokens has significantly shrunk since the peak of the 2021 bull run. The sector has been widely criticized for over-relying on token incentives rather than genuine gaming experiences. Nonetheless, some companies continue to explore, such as Mythical Games and Gunzilla Games, which choose to make blockchain elements optional features rather than core experiences to attract a broader player base.

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