The popularity of Non-Fungible Tokens (NFTs) within the crypto community has been on the rise since their introduction in 2021, with a recent survey showing that 3 out of 4 crypto holders now have NFTs in their portfolio of assets. This information was contained in a report released on April 6 by CoinGecko, a leading cryptocurrency data aggregator.
According to the survey, which was jointly conducted by CoinGecko and Blockchain Research Lab between December 2022 and January 2023, 75.8% of the 438 respondents confirmed that they held one or more NFTs at the time. The report also revealed that of the remaining respondents, 2.5% had held NFTs in the past but did not currently do so, while 20% had never owned NFTs.
Further analysis of the survey results showed that once people got into NFTs, they rarely stopped at just one. At least 1 in 4 NFT holders identified as avid collectors, with 51 or more NFTs in their possession. Additionally, 18.7% of holders owned 11 to 50 NFTs, while 25.8% owned 2 to 10 NFTs. Only 4.8% of NFT holders owned just a single NFT, indicating that NFT holders rarely stop participating in NFTs after their first purchase.
The report concludes that the NFT market’s growth potential depends more on adoption, with projects that make it easier for people to have their first experience with NFTs being crucial. Additionally, the increasing diversity of NFT projects that appeal to different demographics and preferences could also contribute to the continued growth of the NFT market.
The popularity of NFTs has been supported by the increasing number of projects that use them, such as NFT collections from well-known brands like Adidas and Starbucks. The seamless NFT experiences like Reddit’s Collectible Avatars have also helped to encourage adoption of the technology.
The survey conducted by CoinGecko and Blockchain Research Lab provides useful insights into the current state of NFTs within the crypto community. It is clear that NFTs have become an integral part of many crypto holders’ portfolios, and the market’s potential for growth is significant. As NFTs continue to evolve and serve various needs, it is possible that more and more NFT holders will become avid collectors.
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