Key Takeaways
1. Affyn is facing increasing uncertainty as delays and unmet promises have led to a decline in investor confidence, causing its FYN token value to drop over 90% from its peak in 2022.
2. The platform initially aimed to integrate real-world geolocation with a gamified metaverse and quickly sold out over 44,000 NFT-backed plots, raising more than $20 million USD.
3. The Buddy Arena game, launched in closed alpha in May 2023, was taken offline for major updates, with player data erased, indicating challenges in game development.
4. Investor sentiment has shifted from strong support to concern over the lack of an updated roadmap, despite assurances from the team that they are working hard on the project.
5. Affyn’s struggles reflect broader trends in the Web3 gaming industry, where other projects face similar challenges with reduced user activity and declining token values, emphasizing the need for developers to focus on gameplay quality.
Singapore-based Web3 gaming project Affyn is undergoing a period of increasing uncertainty as delays accumulate and investor confidence wanes. Once seen as a potential leader in the play-to-earn market, the platform has failed to meet crucial promises — resulting in its native FYN token dipping below $0.002 USD, which is a decline of over 90% from its peak value in 2022, as reported by CoinGecko.
Ambitious Beginnings
Affyn started with a grand plan to combine real-world geolocation features with a fully gamified metaverse. The NEXUS World land sale presented over 44,000 NFT-backed plots and sold out quickly, generating more than $20 million USD through private, seed, and public rounds, according to the company’s documentation.
Game Development Challenges
In 2023, the platform broadened its ecosystem with Buddy Arena, a real-time multiplayer battle game featuring collectible characters called “Buddies.” The game was launched in closed alpha on 31 May 2023, intending to incorporate the FYN token into its progression system. However, it was subsequently taken offline for major updates, and all player data was erased in preparation for a global relaunch.
On 11 April 2025, Affyn CEO Lucaz Lee communicated the platform’s uncertain situation. “We’re still working on it, but it’s taking longer than we expected. There’s still a chance it may not come together, hence not a good time to give any update yet — but we’re giving it everything we’ve got,” he shared with users. While he did not directly mention a backup plan, many interpreted his words as a nod to Affyn’s internal “Plan B.”
Investor Sentiment Shift
The mood among investors has shifted significantly over time. Earlier forums and public comments showed strong backing, but current conversations often highlight a lack of an updated roadmap. The company’s gameplay FAQ still insists that “the core vision remains the same,” and reassures that the team is “working hard behind the scenes to ensure a quality product.”
In a 2023 chat with Authority Magazine, Lee admitted the difficulty of launching such a platform: “There will be times that are difficult, and you don’t feel like doing it, and there are times where luck runs out. You really need to have that determination to build the game because it’s going to take time and effort to do it right.”
Wider Industry Trends
Affyn’s difficulties reflect a larger trend in the Web3 gaming industry. Other notable projects like The Sandbox and Decentraland have experienced reduced user activity and steep declines in token values, while projects such as Illuvium are progressing slowly due to funding issues and revisions to their roadmaps.
Although the blockchain gaming market is maturing, developers are being urged to prioritize gameplay over token economics. Affyn, with its distinctive approach to geolocation and community-driven design, might still carve out a path forward — but it now faces mounting pressure to fulfill long-standing expectations.
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