Chainplay report reveals 3 in 4 investors join crypto because of GameFi

chain play recent reportThe State of GameFi revealed that 3 out of 4 investors have entered the cryptocurrency to profit from GameFi, with 68% of existing GameFi investors entering the market during the last year.

A total of 2428 GameFi investors from around the world participated in the Chainplay survey. A majority (51%) said their primary motivation for joining GameFi was to make a profit, and 43% of her female respondents said they invested in her GameFi out of curiosity.

GameFi Survey Results

51% said they joined after making a profit, 19% said they were just interested, 18% said they were interested in gameplay, 8% said it was fun, and 4% said they joined because it was great I said I did. graphic.

GenZ, on the other hand, seems to be the most open to GameFi among all age groups. The survey revealed that GenZ investors have allocated 52% of his net worth to his GameFi projects. Nearly all investors (81%) said they prioritized the fun factor over offering big returns.

decrease in profit

GameFi plays a key role in attracting investors to the space, but the study also found that profits generated from GameFi have declined over the past six months. While 89% of him acknowledged a decline in profits, 62% said he had lost more than half of his GameFi profits in the past six months.

When we asked participants why their profits had decreased, a majority of respondents (58%) agreed that poorly designed game economies were the main reason. Another 21% blamed the drop in reward token prices, while 15% said the bubble in the blockchain gaming sector had burst. Only 6% pointed to Bitcoin’s poor performance due to the current winter market.

In addition to lower profits, investors spent less time on GameFi compared to 2021. Investors say he put in an average of 2.5 hours per day in 2022, 43% less than his 2021 record of 4.4 hours.

Investor turn-off

Participating investors identified five reasons preventing them from joining GameFi. The survey revealed that criminal activity such as rug pulling and Ponzi schemes was the biggest turn-off for investors, as noted by 73%.

Another 42% said quests were too repetitive and sometimes felt more like a chore than a game, and 33% said the gameplay process was downright boring. More than a quarter (29%) cited poor profitability as the reason, and another 28% said poor graphics were discouraging investors from investing in his GameFi.

main factor

Despite declining profits and the exit of major investors, survey participants were able to identify four key drivers for GameFi in 2022. Nearly half (44%) say the GameFi sector has grown as traditional gaming companies have entered the space.

Another 28% said the emergence of AAA games has boosted the sector, with 15% and 13% citing the growth of cryptocurrencies and institutional funding, respectively, as the main reason.

Posted In: GameFi, Research

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