High development barriers: Traditional DeFi & GameFi projects are dominated by large studios, making it difficult for long-tail creators to participate due to the lack of tools that enable “everyone to create.”
Ecosystem participants as mere consumers: Centralized platforms control virtual assets and rules; participants can only pay to participate and cannot engage in value co-creation.
Lack of asset ownership: Assets, points, and in-system rights within DeFi & GameFi applications cannot be truly owned on-chain, and once a participant exits an ecosystem, accumulated value often drops to zero.
Economic imbalance: The first generation of DeFi & GameFi systems relied on single incentive models that led to token inflation, lacking stable value anchoring and effective value recirculation mechanisms.
These structural defects caused the short-lived boom of early DeFi & GameFi models to rapidly collapse.
