Web3 games and the buyers of their tokens haven’t had the best relationship this year. Binance research revealed a striking trend – the market cap ratio to FDV for new tokens has plummeted from 41% in 2022 to just 12% in 2024. This pattern was evident in the top 5 gaming launches of 2024 going to market with minimal token unlocks, only to see average post-TGE declines of 41%.

Market Response and New Approaches

Early token buyers have become increasingly skeptical of traditional launch mechanisms