NFT 😲😲😲💖💓

3 years ago

NFT 😲😲😲💖💓

Our respondents have indicated that ‘flip & earn’ was the primary motivation behind their NFT purchases, though 2/3 of respondents indicated that NFTs only made up

Although data from TeleGeography stated that there were already more than 7.1 billion active mobile devices worldwide, the personal computer remains the preferred choice for NFT trading and minting, with 60% of investors doing so. Mobile lags behind with a mere 21% of responses. “This can be attributed to the ease of using a PC to navigate time-sensitive NFT mints/trades,” the report highlighted.

When it comes to tracking new or upcoming NFT projects, 60% of respondents said they prefer to use Discord and Twitter. The minimum price also appeared to be important for the perception of value. The report revealed that when it comes to evaluating NFTs before buying, the majority of respondents, 38.5%, were interested in the floor price and only 23% and 21.8% selected “strong community” and “artistic value/attachment,” respectively.

On the other hand, most market investors said they were not interested in selling their NFTs. More than 50% of respondents highlighted that they have a HODL mentality and see a future where nonfungible tokens could be important items in games. Even with all the hype, NFTs only make up a small part of most cryptocurrency portfolios, with 70% of respondents reporting that they only represent 0-25% of their cryptocurrency portfolios.

Ethereum remains the dominant chain for NFTs among respondents at 46.3%, according to the report. In second place was Polygon with 13.8%, followed by Solana with 13.5%. Other smart contract platforms together accounted for 26.4% of NFTs traded by CoinGecko respondents.

When it came to marketplaces, the data confirmed the dominance of OpenSea, which was responsible for 58.7% of trading activity. Runner-up Solanart held just over 10% market share, while and LooksRare had less than 4%.

“Interestingly, Crypto.com, VEVE Official and Immutable X are some of the most cited examples parked under ‘Others’ by the respondents, perhaps alluding to their rising prominence. LooksRare and X2Y2 on the other hand, despite their generous incentive programs, failed to build stickiness despite early success,” pointed CoinGecko.

DELIVERED EVERY FRIDAY

Subscribe to the Finance Redefined newsletter

Email Address

By subscribing, you agree to ourTerms of Services and Privacy Policy

#Blockchain

#Ethereum

#Adoption

#Report

#Tokens

#Crypto Collectibles

#DeFi

#Trading

#CoinGecko

#NFT