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Is It Game Over for GameFi in 2023?

GameFi got pwned in 2022. Can the industry level up in 2023 or is it GG for good?

2022 was brutal for every corner of crypto, and GameFi was no different. In November, GameFi funding reached an all time low of $60 million, down 69% MoM. Furthermore, 62% of GameFi investors lost more than 50% of their profits in 2022.

As 2023 kicks off, will GameFi see a revival or could it be game over for the sector? To find out more, we spoke to a range of GameFi companies in Singapore.

2022's Crypto Winter Defeat

If crypto was a video game, 2022 was played on hard mode. For many projects, even outside of GameFi, crypto winter proved to be a contentious opponent, ruthlessly and relentlessly challenging the market.

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Hong Kong Cracks Down on Worldcoin's Data Collection Practices

Hong Kong Cracks Down on Worldcoin's Data Collection Practices

Authorities found that Worldcoin failed to adequately inform users about the collection of their personal data and did not obtain their informed consent. Worldcoin also retained user data for extended periods beyond what was necessary and did not provide a Chinese translation of its privacy policy.