Cryptocurrency data aggregator CoinGecko reports that Metaverse or game-based non-fungible tokens (NFTs) are the most common type of collection owned worldwide before profile pictures and art.
Metaverse refers to the convergence of physical, extended, and virtual reality in a shared online space. With the industry projected to reach a $ 800 billion market over the next two years, games look like the most likely NFT gateway for most people, especially crypto enthusiasts.
NFTs surged in 2021 as the total trading volume of NFTs exceeded $ 5 billion at that height in August 2021. Although the market has declined slightly since then, NFTs are still one of the most popular buzzwords in the field of cryptocurrencies.
According to a survey conducted by CoinGecko, most respondents are interested in the lowest rates when trading NFTs, more than half of which are motivated by HODL’s current and future utilities. Cryptocurrency despite falling prices.
Of the 871 respondents in the survey, 72% own NFTs, and more than half have five or more collections.
Ownership of NFTs is centered around Metaverse / game type NFTs (35.8%) and is relatively evenly divided between profile pictures (27.4%) and art (25.3%).
Interestingly, the APAC region leads the adoption of NFTs with 38.8% of survey respondents. Europe closely follows as the second largest region of respondents (31.7%), while the Americas are the third farthest (18.3%).
“The results are not surprising given GameFi NFT’s dominance in Asia, as most respondents / NFT owners live in the Asia Pacific region,” said Coin Gecko.
Regarding the age group, the age groups of 18 to 30 and 30 to 50 are relatively evenly divided, and most of the respondents belong to the latter group (45.2%), followed by 43.6% of the former. I am.
Regarding NFT transactions, according to a survey, “buy cheap, sell high” was 42.2% as the driving force for purchasing NFT.
“On the other hand, HODL’s idea of” collecting “and” for its usefulness “was characterized by a combined advantage of about 50%. This is consistent with the question “Have you ever sold an NFT?” And only half answered “yes”, “Coin Gecko said in a report.
In addition, less than half (43%) of respondents benefit from NFT transactions, while 23% are HOD Lers selected without considering profiting from NFTs.
Interestingly, NFTs make up a small part of most crypto portfolios, of which nearly 70% have only 0-25% of NFTs.
“Our research suggests that NFT owners value NFTs that are perceived to provide the most” practical “value, rather than intangible quality such as aesthetics. Recent NFT projects tend to have some form of utility (eg, exclusive access, future airdrop) rather than just “on-chain JPEG”.