Show Me The Money! More Than 64% Of People Buy NFTs Just To Profit, Survey Shows

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Given the growing popularity of NFTs, many are beginning to wonder if it’s worth spending thousands or even millions of dollars on what’s available for free on the Internet. ..

According to a recent survey conducted by Finder.com, about 3% of American Internet users now own non-fungible tokens. The Finder conducted an online survey of more than 28,000 individuals from 20 countries to compare NFT consumption and found that the United States was ranked third in terms of usage. ..

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Non-fungible tokens are based on merchandise-like technology, so users can financially benefit from their use. Thanks to the blockchain, you can verify NFTs without central authority and use digital signatures to verify ownership and originality.

However, much of the talk around NFTs comes from the opportunity to benefit from them. Art collector Pablo Rodriguez Fraile bought a 10-second video clip from the artist for $ 67,000 and then sold it for $ 6.6 million.

It’s all about money

Approximately 64.3% of the 1,318 respondents to the new survey released and conducted by DEXterlab on June 10 say that “making money” is the main reason for getting an NFT.

Studies show that the second most common reason people get these things is to “join the community and be flexible.” This is the number one reason cited by 14.7% of survey respondents who own a particular NFT.

About 12.4% of survey respondents are digital art collectors, and 8.6% buy to gain access to games and tools. This is usually done in the form of a membership privilege that grants access to the artist’s work, rewards and other perks.

To be sure, making money is one of the biggest reasons people buy digital art.

In an article published on Phemex on April 26, Jeffrey Craig listed four reasons why individuals buy NFTs. It is access to unique privileges, interests, maintenance of value, protection of digital ownership and rights.

Crypto total market cap at $1.08 trillion on the weekend chart | Source: TradingView.com

NFT: Some people make money, others don’t

Despite the fact that the main reason individuals buy non-fungible tokens is to make money, 58.3% of NFT holders surveyed by DEXterlab have not made any particular profits in their NFT so far. I reported.

Nonetheless, about 41.7% of respondents said they were able to make a profit with their previously acquired NFTs.

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American men, on the other hand, are more likely to get an NFT than women, with 4.6% of men and 1.2% of women owning at least one.

According to data from Finder.com, the gender gap in the United States is 3.3 percentage points higher than the gender gap in the world when it comes to non-fungible tokens.

Featured image from Richard Crouse, chart from TradingView.com

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