According to Chainplay’s recent State of GameFi report, 3 out of 4 investors join crypto to profit from GameFi, and 68% of existing GameFi investors joined the market within the last year.
A total of 2428 GameFi investors from all over the world responded to Chainplay’s survey.
The majority of them (51%) stated that profit is their primary motivation for joining GameFi, while 43% of female respondents stated that they invest in GameFi out of curiosity.
GameFi findings
In addition to the 51% who said they were looking to make a profit, another 19% said they were simply curious, 18% said they were interested in the gameplay, 8% said it was entertaining, and 4% said they joined because of the great graphics.
On the other hand, among all age groups, GenZ appears to be the most open to GameFi. According to the survey, GenZ investors put 52% of their net worth into GameFi projects. Almost all investors (81%) said they prioritised having fun over making big money.
Declining profits
Despite the fact that GameFi plays an important role in attracting investors to the field, the survey also reveals that their profit has decreased in the last six months.
In addition to diminishing income, investors are spending less time on it compared to 2021. In 2022, investors reported spending a mean of 2.5 hours per day, which is 43% less than the 4.4 hours reported in 2021.
Turnoffs for investors
Investors who took part came up with five reasons why they can’t invest in GameFi. 73% of the investors said that illegal activities like rug pulls and Ponzi schemes were the thing that turned them off the most.
Another 42% said that quests can be too repetitive and feel more like work than fun, and 33% said that the game itself was boring. More than a quarter (29%) said it was because it didn’t make enough money, and another 28% said it was because the graphics were bad.
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