Delphi Digital reste optimiste pour le Web2.5 alors que le GameFi marque le pas

Le GameFi s'essouffle, mais Delphi Digital voit une lueur d'espoir ailleurs.

L'hybridation comme voie de sortie

Alors que les jeux à la chaîne peinent à décoller, les analystes pointent vers le Web2.5. Ce modèle hybride - mélangeant la convivialité des applications traditionnelles et la propriété vérifiable des blockchains - attire un nouveau capital. Les investisseurs, lassés des promesses non tenues du 'play-to-earn', cherchent des produits qui fonctionnent aujourd'hui, pas dans un futur hypothétique.

Une adoption par la praticité, pas par l'idéologie

La thèse est simple : contourner la complexité. Les utilisateurs n'adhèrent pas à une blockchain ; ils adoptent une expérience. Le Web2.5 construit des ponts, intégrant des éléments de tokenisation et de propriété numérique dans des interfaces familières. C'est une approche pragmatique qui mise sur une transition progressive, évitant le mur de la masse critique que doit franchir le Web3 pur.

Un pari sur l'évolution, pas la révolution

Cette vision tranche avec le récit habituel du secteur. Elle suggère que la prochaine vague d'adoption massive ne viendra pas d'un métaverse entièrement décentralisé, mais d'améliorations incrémentielles aux plateformes existantes. Une stratégie qui, il faut le dire, ressemble moins à une disruption financière qu'à une mise à jour logicielle soigneusement monétisée - ce que tout bon banquier traditionnel comprendrait parfaitement.

Stablecoins to help expand Web2.5 gaming

Web2.5 studios can now leverage blockchain advantages without forcing users to participate in speculation or making excuses for awkward user experiences (UX). The trend is expected to accelerate as stablecoins gain popularity. Meanwhile, microtransactions, engagement-based rewards, and global payment rails all become easier.

In contrast, Web3 native games have also generated millions of dollars (over seven figures) in revenue in 2025, but their player bases remain small and largely dominated by bots. Additionally, the fun of Web3 games often dries up as incentives disappear. However, some teams are experimenting with new models to address this issue.

The Delphi Digital team further characterizes Web3 games as simple loops that create opportunities for users to compete for advantages in riskier environments. However, some argue that the trustlessness of transparent smart contracts enables participants to assume significantly higher risk profiles than traditional speculative platforms. Meanwhile, others argue that this is too idealistic, instead advocating for limitless spending possibilities compared to traditional gaming.

According to Delphi Digital, a significant amount of idle capital is always available to be invested in crypto around the clock. The crypto research firm observed that DeFi Kingdoms’ market cap peaked at $1.3 billion, Wolf Game’s daily volume peaked at approximately $118 million, and Raid Party raised nearly $60 million during the mint before the team gradually abandoned the project.

Web3 games market changes in 2025 as funding declines 

The Web3 games market is changing as the year comes to a close, due to declining investments and funding rounds, which are also becoming smaller. However, projects continue to receive funding from various sources. 

South Korean developer Ndus Interactive announced last month that it raised $1.6 million for pop extraction shooter Xociety, bringing the total funding to over $8 million. Xociety hit early access on November 29 through the Epic Games Store for PCs and the SuiPlay0X1 handheld device, which supports stores like EGS and Steam.

Meanwhile, Sunyoung Hwang, the CEO of Nexpace, believes that balancing financial and entertainment elements in blockchain games is challenging because of the players, not the developers. He also added that Web3 and Web2 gaming remain separate because traditional gamers view the threshold to try a Web3 title as still very high. Most traditional gamers have security and regulatory concerns, and they perceive crypto as complicated.

Hwang further believes that clearer regulatory frameworks, which make participation feel straightforward and safe, should progress in tandem with UX innovations that allow PEOPLE to start playing various games without requiring deep Web3 expertise. 

The CEO of Play Network, Christina Macedo, also believes that the challenges in Web3 and Web2 gaming are fundamentally the same. She notes that traditional players do not want to think about token economics or manage wallets while playing. As a result, today’s Web3 gaming naturally leans toward users who appear more open to perceived financial barriers. 

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