NFTs News

More Than 64% Buyer NFT Joins For Money

The underlying technology makes non-fungible token (NFT) a commodity from which users can profit with money. With the popularity of NFTs growing, is it really worth investing tens of thousands or even millions of dollars in something that everyone can get for free on the internet?

In fact, according to the results of a new survey published and conducted by DEXterlab on June 10, 64.3% of 1,318 respondents said the main reason they buy NFTs is “to make money.”

According to the poll, the second most popular reason for buyers is to join the community and brag. For 14.7% of survey respondents, this is the main reason to get some non-fungible tokens.

Digital art collectors accounted for 12.4% of total participants, while 8.6% of individuals gained access to games and tools, often in the form of memberships that allow access to artist projects, perks, etc.

NFTs cannot be traded in the same way as cryptocurrencies. Interests and needs are both driven by the unique characteristics and varying degrees of the scarcity of each. These factors also affect the value of the item.

So, they can be considered an investment that will generate profits later if you have a good understanding of the value of a particular digital asset and make a reasonable choice for your purchase.

While the main reason individuals buy them is to make money, the majority of NFT holders participating in the survey (58.3% of respondents) consider their assets to be unprofitable so far.

However, 41.7% of respondents revealed they profited from previously purchased NFTs.

It is true that many people still do not understand the value of NFTs and think there is no need to invest in them, but the global NFT trading volume will increase by more than 200% by 2022, surpassing $50 billion.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Bitcoin Spot ETF Inflows Reach $449M With BlackRock Leading

Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…

44 minutes ago

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

2 hours ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

3 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

3 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

3 hours ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

4 hours ago

This website uses cookies.