- 89% of GameFi investors have felt the impact of crypto winter 2022 .
- More than half of the GameFi investors have reported losing more than 50%.
- 44% of GameFi investors feel that the involvement of traditional gaming companies could be key to GameFi’s growth.
Although roughly half of the investors joined the GameFi space for profits initially, 89% of investors felt the impact of the 2022 Crypto Winter.
A recent survey by ChainPlay among 2,428 investors revealed that 75% of the respondents joined the crypto space solely because of GameFi. While roughly half of the investors who joined the space were initially motivated by profits, 89% of them succumbed to the crypto winter of this year.
Consequently, 62% of GameFi investors who entered the space have reported losing more than 50% of their profits. Seemingly, investors blame poor in-game economy design for their losses.
Furthermore, the survey revealed that in 2022, investors worldwide spent an average of 2.5 hours per day participating in GameFi. Compared to last year’s figures, this is down by 43% as it used to be 4.4 hours a day.
Additionally, the fear of getting caught in rug pulls and Ponzi schemes, coupled with below-par graphics, have been some of the main reasons that investors have not invested in new GameFi projects. It is noted that 44% of GameFi investors feel that the involvement of traditional gaming companies could be key to GameFi’s growth.
GameFi, which is the fusion of decentralized finance (DeFi) and gaming, has attracted a set of investors that tend to choose projects according to their use case as opposed to their money-generating potential.
The GameFi ecosystem serves as an entry point for numerous first-time investors and attracts GenZ investors and gaming enthusiasts.