The bitter end for Nyan Heroes: why the cat's out of the bag
Nyan Heroes, a Solana-based shooter game, halts operations due to financial difficulties.
Bye-bye, Nyan Heroes! 9 Lives Interactive regretfully announced the closure of their Solana-based, cat-themed hero shooter game due to crippling funding shortages.
The game clawed its way through four play tests on the Epic Games Store, culminating in a play-to-earn airdrop of the NYAN token on the Solana blockchain. Although the game amassed over one million players across its play tests and boasted 250,000 wishlists on both Epic Games Store and Steam, financial support was an evasive feline.
In a harsh, candid statement on X (formerly Twitter), 9 Lives lamented: "Despite our accomplishments... we weren't able to secure the required capital to see the game to completion." The cat's out of the bag – Nyan Heroes is shutting down.
The blockchain-infused, feline-fueled Goliath featured the NYAN token, minted on the Solana blockchain, along with Cat NFTs spawned in 2021, before the game was even playable.
News of the imminent demise of Nyan Heroes swiftly clawed the NYAN token share price to dust, plunging more than 40% on the day and nosediving 98.5% from its mighty high of $0.45 in May 2024.
In an email to Decrypt, 9 Lives CEO and Creative Director Max Fu hinted at potential life-saving measures, but since kittens aren't known for their longevity, a swift rescue seems unlikely.
The shuttering of Nyan Heroes adds to the burgeoning list of crashing Web3 games, as the genre hesitates to find its paws in the vast gaming landscape. Ethereum games, such as Mystery Society, have also folded, citing difficulties in raising funds[1].
Why has Web3 gaming languished in a downward spiral? New data dives into the cause, revealing a perfect storm of challenges:
- Reduced Investment: Funding for Web3 gaming has plummeted, shedding 71% from Q1 2025 alone[3][4]. Remaining investment primarily flows into infrastructure rather than consumer-facing projects[3].
- Market hesitation: The volatile performance of game tokens has bred doubt, while gamers remain skeptical of the integration of NFTs and cryptocurrencies[1].
- Evolving investment landscape: Investors are now concentrating on projects with strong fundamentals to avoid pump-and-dump schemes[5].
- Competition and innovation: As the market becomes saturated, games need to differentiate themselves and secure a unique niche to win the attention of investors and the gaming public[2].
Even though the Web3 gaming market is poised to break through the $183 billion mark by 2034[1], individual games like Nyan Heroes and Mystery Society must be agile, innovative, and tenacious to navigate these tumultuous waters. After all, the secret to success is nine lives… or perhaps more.
Formerly for Decrypt Newsletter
- Nyan Heroes, the cat-themed web3 game, is shutting down due to funding shortages.
- The game had four play tests on the Epic Games Store and boasted over one million players, but financial support was elusive.
- The NYAN token, minted on the Solana blockchain, plunged more than 40% on hearing the news, despite being a part of the game.
- The shuttering of Nyan Heroes adds to the growing list of struggling Web3 games, such as Mystery Society, citing difficulties in raising funds and market skepticism about NFTs and cryptocurrencies.
- Despite the predicted growth of the Web3 gaming market to $183 billion by 2034, individual games must be agile, innovative, and tenacious to navigate the challenges posed by reduced investment, market hesitation, a shifting investment landscape, and stiff competition.
- In order to secure funding, Web3 games need to differentiate themselves, have strong fundamentals, and avoid pump-and-dump schemes.
