GameFi's performance in 2025 has been disappointing. Funding scale has declined by over 55% year-on-year, and many highly anticipated new games have not met expectations, leading to a noticeable drop in popularity across the entire sector. However, this does not mean that GameFi has hit a dead end—at least from a data perspective, the situation is not so absolute. Notably, the new concept of "Web2.5 games" is emerging, injecting some vitality into this overlooked field. In other words, the story of GameFi may not be completely over; it has just taken a new turn.