Web3 games in 2026: What is the current state of Illuvium, Axie and Sandbox

2026年加密货币游戏现状：从狂热到清醒的五年回顾

2021年，加密货币曾被视为重塑游戏的契机：通过“边玩边赚”（Play-to-Earn）模式，玩家能够真正拥有自己的数字资产。然而，五年后的现实令人清醒。几乎所有大型游戏代币的价格较历史高点下跌了97%至接近100%，其中六个代币仅在2026年夏季就创下了历史新低。分析机构Caladan指出，超过90%的Web3游戏实质上已经失败。

本文将深入探讨Illuvium、Aavegotchi、The Sandbox、Axie Infinity等知名项目的命运，分析该模式为何未能持续，并审视2026年是否还有真正的加密货币游戏拥有活跃玩家。文章最后提供了一份检查清单，帮助您在投入资金前评估一款新游戏的价值。

2026年游戏代币价格数据概览

所有价格数据均来源于CoinGecko，统计时间为2026年9月26日14:11 UTC。“历史最低点”一栏显示每个代币达到最低价格的时间。

游戏 (代币) 当前价格 距高点跌幅 历史最低点时间 30日涨跌幅 Illuvium (ILV) $4.06 -99.8% 2026年7月29日 +27% Gala (GALA)$0.0022 -99.7% 2020年 +22% The Sandbox (SAND) $0.046 -99.5% 2020年 +9% Pixels (PIXEL) $0.0061 -99.4% 2026年7月30日 +18% Axie Infinity (AXS) $1.19 -99.3% 2020年 +26% Parallel (PRIME) $0.235 -99.2% 2026年7月17日 -4% Big Time (BIGTIME) $0.0088 -99.1% 2026年8月12日 +36% Decentraland (MANA) $0.092 -98.4% 2017年 +24% Immutable (IMX) $0.166 -98.3% 2026年8月19日 +27% Aavegotchi (GHST) $0.067 -98.1% 2026年8月17日 +47% Off The Grid (GUN)$0.0032 -97.2% September 16, 2026 -2%

It should be noted that the gains over the past 30 days are misleading. A token that rallied 30% after falling 99% still stands at just 1.3% of its all-time high. This recovery follows the overall market trend rather than positive news from the game itself.

The fate of well-known cryptocurrency games

Illuvium

This project was promoted with host-level image quality in 2021, but its token hit a record low on July 29, 2026, and the price dropped 99.8% from its high of approximately US$1,900. According to industry media The Defiant, the team is cutting salaries to extend its survival time. The much-awaited open world title "Overworld" is scheduled to be released in December 2026. In mid-September, ILV rose by about 20% in a single day, but the fundamentals of the project did not change substantively.

Axie Infinity

The game that made the concept of "making money while playing" famous, had approximately 2.7 million daily active users at its peak. Caladan data shows that there are currently approximately 5,500 daily active users. Developer Sky Mavis is developing its successor,"Atia's Legacy"; according to Blockchain Gamer, the third beta will be running from July 1, 2026. There is currently no official release date. If you still remember the Ronin Bridge hack, please refer to our special article on the Axie Infinity hack for more details.

The Sandbox

The virtual world is still operating and betting on creator tools. In August, the project encountered a security incident on the bridge between Base and BNB Chain; according to its own statement, the vault has compensated the affected users one-on-one. For details, please refer to our article on Sandbox Bridge vulnerabilities and claims.

Aavegotchi

This collectible game with Ghost NFT has been migrated from the Polygon network to the Base network. According to CoinGecko data, its market value is approximately US$4 million, making GHST one of the smallest tokens in this list. See the original design concept of the game for details in our Gotchiverse article released in 2022, which is now read with the color of contemporary literature.

Pixels

This Ronin network-based farm game has undergone a strategic transformation. The reward app Stacked will be running on the Ronin Network since March 2026, and the game code itself has been announced to be open source according to the Ronin blog. PIXEL tokens hit a record low on July 30, 2026.

Immutable

The gaming platform has merged its two networks. IMX hit a record low on August 19, 2026. The release of a new batch of IMX tokens is scheduled for October 5.

Four games, Decentraland, Gala, Big Time and Parallel

are still in operation but are relatively low-key. Decentraland is now accessible on mainstream gaming platforms and mobile;Gala is developing Mirandus;Big Time and Parallel are building games while their token prices are at historically low levels.

Why is the "making while playing" narrative failing?

CoinDesk在2026年4月发布的Caladan数据毫不含糊：超过90%的Web3游戏被归类为失败，超过300款游戏已关闭，新工作室的资金筹集额暴跌93%。网站BitPinas统计，仅2026年上半年就有41家工作室关闭，而2025年全年为37家。

几乎每个案例背后都有三个共同原因：

1. 代币先于游戏存在：许多项目在拥有可玩游戏之前就出售代币和土地。早期买家急于抛售，而玩家数量从未达到足以吸收抛压的程度。
2. 是赚钱而非玩游戏：“边玩边赚”吸引的是想赚钱的人，而不是想玩游戏的人。只要新鲜资金不断涌入，数学模型就能成立。一旦资金流入停止，奖励下降，用户也随之流失。
3. 玩家不愿使用钱包：设置钱包、选择网络、支付手续费：对于只想在晚上玩一小时游戏的人来说，这些障碍是传统游戏所没有的。

数据未反映的真相同样重要。DappRadar报告显示，2026年7月游戏领域的日活跃钱包数约为490万，是唯一仍在增长的类别。但“钱包”不等于“玩家”。其中一些是自动收割奖励的机器人账户。不同来源的用户数据矛盾巨大：例如Axie的数据，Caladan显示为5,500，而营销文案中则称“超过10万”。

2026年是否存在拥有真实玩家的加密货币游戏？

是的，但寥寥无几，且没有任何一款能完全依靠代币经济独立运转。两款游戏脱颖而出：

MapleStory Universe (冒险岛宇宙)

韩国游戏集团Nexon将其知名品牌移植到了区块链版本。据Blockchain Gamer报道，《MapleStory Universe》在2026年上半年实现了990万美元的协议收入和564,714个付费钱包。与2021年的游戏不同之处在于：这里是一款拥有数百万粉丝的游戏先行，随后才添加区块链技术。

Off The Grid

Gunzilla工作室开发的射击游戏预计将于2026年10推出1.0正式版，结束早期访问阶段。据工作室称，主网有43.7万个钱包，日活跃钱包约2.3万个。这些数据来自开发者自身，并非独立测量结果。尽管如此，GUN代币直到2026年9月16日才创下历史新低。10月的发布将是今年最重要的考验：一款制作精良的成品游戏，能否在代币价格下跌时留住玩家？

核心原则是：一款好玩的游戏才能填满竞技场，代币只是其中的次要因素。

如何识别拥有真实玩家的Web3游戏

在购买游戏代币或游戏NFT之前，请依次回答以下五个问题：

• 我今天能玩这款游戏吗？If not, what you buy is a promise. Trailers are not games.
• Would I still play it if there was no reward? A game that has players only because of payouts will leave once the revenue shrinks.
• Who measures the number of users? Studio data is advertising in nature. Independent data from DappRadar or analytics firms is better, but even so, the rule still applies: Wallets are not equal to real people.
• How many tokens have not yet been released? Unlocking a large number of tokens will drive down the price. The next release date can be found in the public unlocking calendar.
• Do I have to hold a token to play the game? If not needed, the value of the token is based solely on speculation.

You can purchase the game NFT on market platforms with different fees and networks. Our NFT Market Comparison Guide provides you with an overview. The game tokens themselves need to be traded through regulated exchanges in Germany, and a list of license providers can refer to our Crypto Exchange Comparison Guide.

Dates for Web3 games worth watching before the end of the year

• October 5, 2026:Immutable platform releases a new batch of IMX tokens.
• October 2026: Off The Grid is expected to release version 1.0; the studio has not announced an exact date.
• October 17, 2026:Charleston举办的ApeFest活动，Yuga Labs可能会在Otherside项目中展示新内容。
• 2026年12月：Illuvium计划推出《Overworld》。

任何在2021或2022年买入游戏代币并在今天亏损出售的人，应注意税务问题：在德国，一年内私人处置交易的损失可以抵消同一类别的收益，而持有超过一年的销售不再涉及税务问题。我们2025年春季的最后一次游戏代币综述位于我们的“2025年5月顶级5大游戏代币”文章中，与今天的对比展示了该领域变化的速度。

我们对加密货币游戏的评估

2026年，Web3游戏并未死亡，但2021年的承诺已死。“为了赚钱而玩游戏”的模式行不通，因为最终总有人需要为 payouts 买单。未来可能留存下来的是那些优秀的游戏，其中区块链在后台运作，用于物品的所有权和交易等。这是否足够成功，将在接下来的几个月里通过《Off The Grid》和《MapleStory Universe》的表现得到验证，而不是通过旧代币的价格体现。

(截至2026年9月26日。本文不构成投资建议。价格和费用结构会发生变化；购买前请咨询提供商条款。)