Investors in GameFi are now putting fun over money, according to a survey.

About half of the investors got into the GameFi space in the beginning to make money, but 89% of those investors lost money in Crypto Winter 2022.

GameFi is the combination of gaming and decentralized finance (DeFi). It attracts investors who choose projects based on how they can be used instead of how much money they can make.

GenZ investors and gamers are interested in the GameFi ecosystem.

Because of this, it is a good place for many first-time investors to start.

A ChainPlay survey that 2428 GameFi investors took part in showed that 75% of them only got into crypto because of GameFi.

About half of the investors got into the GameFi space because they thought they could make money. However, Crypto Winter 2022 killed 89% of GameFi investors, and 62% of them lost more than 50% of their profits.

But investors think that the main reason they lost money was because of how the in-game economy was set up.

In line with this feeling, the survey found that investors around the world spent an average of 2.5 hours per day on GameFi in 2022. This is down 43% from last year, when they spent an average of 4.4 hours on GameFi.

Some of the biggest things that keep people from investing in new GameFi projects are the fear of rug pulls and Ponzi schemes, as well as bad graphics.

So, 44% of investors think that traditional gaming companies can help GameFi grow if they get involved.

Also, when it comes to future GameFi projects, 81% of GameFi investors are moving away from the traditional way of thinking and putting fun over making money because they want to have fun in games.

A DappRadar report confirmed that blockchain gaming and the Metaverse were the ecosystems that were least hurt by the Terra (LUNA) mess.

A steady flow of institutional investment was also seen in both blockchain gaming and the Metaverse. This shows that many top companies think that both of these areas could have strong economic growth in the future.

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