​​GameFi investors are now prioritizing fun factor over money: | Chill Crypto | News | Bitcoin

​​GameFi investors are now prioritizing fun factor over money: Survey

While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022.

GameFi, the fusion of gaming and decentralized finance (DeFi), attracts a set of investors that tend to choose projects based on their use case rather than money-generating potential.

The GameFi ecosystem attracts GenZ investors and gaming enthusiasts. As a result, it stands as an entry point for numerous first-time investors. A ChainPlay survey participated by 2428 GameFi investors revealed that 75% of the respondents joined the crypto space solely because of GameFi.

While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022 — with 62% of them losing more than 50% of their profits.

However, investors believe that poor in-game economy design was the main reason for their losses. In accordance with this sentiment, the survey revealed that, in 2022, investors worldwide spent an average of 2.5 hours per day participating in GameFi, which is down 43% to 4.4 hours from last year.

The fear of rug pulls and Ponzi schemes coupled with sub-par graphics are some of the biggest drivers preventing investments in new GameFi projects. As a result, 44% of investors believe that the involvement of traditional gaming companies can be key to GameFi's growth.