Investors in GameFi Care More About Entertainment Than Returns, Study Finds

Even though many people got into the GameFi space expecting to make money, the majority of those people (89% to be exact) lost money during the Crypto Winter of 2022.

Those interested in GameFi, the intersection of gaming and decentralized finance (DeFi), are the type of people who make investment decisions based on a project's practical utility rather than its profit potential.

Gen Z gamers and investors are drawn to the GameFi ecosystem.

Therefore, it acts as a gateway for many first-time investors.

According to a survey conducted by ChainPlay with 2428 GameFi investors, 75% of those who entered the cryptocurrency market did so because of GameFi.

Sixty-two percent of GameFi investors lost more than half their gains during Crypto Winter 2022, despite the fact that they were among the half of investors that entered the GameFi market in the first place for financial gain.

When asked about their financial losses, however, investors cited problems with the game's economy as the primary culprit.

In line with this view, the poll found that in 2022 investors around the world spent an average of 2.5 hours per day engaging in GameFi, down from 4.4 hours in 2021.

Investment in new GameFi projects is held back by a number of factors, including a lackluster graphics pipeline and the threat of rug pulls and Ponzi scams.

Since this is the case, it's no surprise that 44% of investors think that support from established gaming giants is crucial to GameFi's development.

Furthermore, 81% of GameFi investors are shifting away from the old approach and valuing the enjoyment aspect over profit-making as they seek out great in-game experiences.

DappRadar confirmed that ecosystems related to blockchain gaming and the Metaverse were least impacted by the Terra (LUNA) fiasco.

Also, both blockchain gaming and the Metaverse have received consistent institutional investment, suggesting that many leading businesses anticipate robust economic growth in these areas in the future.

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