Metaverse, NFT Games Are The Most Common Types Of Collectibles: Survey

The metaverse refers to a convergence of physical, augmented and virtual reality in a shared online space. The industry is expected to be an $800 billion market over the next two years, and games seem like the most likely NFT entry point for most people, especially crypto enthusiasts.

NFTs have seen a meteoric rise in 2021, with total NFT trading volume reaching over $5 billion at its peak in August 2021. Since then, the market has declined slightly, but NFT remains one of the hottest words. the hottest fashions in the field of cryptography.

According to the survey conducted by CoinGecko, most respondents are interested in the price floor when trading NFT, with more than half motivated by the current and future usefulness of HODL, which stands for “Hold on for Dear Life” , which means that one clings to his cryptocurrencies despite the price drops.

Of the 871 survey respondents, 72% own NFTs, and more than half of them have five or more collectibles.

NFT ownership clusters around metaverse/game type NFTs (35.8%), followed by a relatively even split between profile pictures (27.4%) and art (25.3%).

Interestingly, the APAC region leads in NFT adoption among survey respondents at 38.8%. Europe follows closely as the second largest region (31.7%) of respondents, followed by North/South America a distant second (18.3%).

“With most of our NFT respondents/owners residing in the Asia-Pacific region, the result is not surprising given the dominance of GameFi NFTs in Asia,” CoinGecko said.

In terms of age bracket, there is a relatively balanced distribution for the 18-30 and 30-50 age brackets, with the majority of respondents belonging to the latter bracket (45.2%), closely followed by 43.6% in the first.

When it comes to NFT trading, the survey showed that “buy low, sell high” was the top driver of NFT buying at 42.2%.

“On the other hand, the HODL mentality of ‘collecting’ and ‘for their usefulness’ exhibited a combined dominance of around 50%. This is consistent with the question “did you sell NFTs” where only half of them answered “Yes,” CoinGecko said in a report.

Additionally, less than half of respondents (43%) have profited from NFT trading, while 23% are HODLers by choice with no concern for profiting from NFTs.

Interestingly, NFTs make up only a small portion of most crypto wallets, with almost 70% of them featuring only 0-25% NFT.

“Based on our survey, it appears that NFT owners value NFTs that are perceived to offer the most ‘practical’ value, rather than intangible qualities such as its aesthetics. Recent NFT projects also tend to have some form of utility (e.g., exclusive access, future airdrops), rather than just “chain JPEGs,” according to the report.

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Metaverse, NFT Games Are The Most Common Types Of Collectibles: Survey

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