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.