Cashing in on the NFT hype: How serious are people about it?
NFTs have moved from a fringe trend to becoming an almost mainstream digital asset within just a year.
Despite speculations, NFT sales saw a nearly 200-fold increase in the first half of this year compared to the same period last year. This report delves into the rising consumer interest and excitement surrounding the ongoing NFT craze.
48% of Americans and 22% of Britons think NFTs are a good and safe investment
18% of Americans and 5% of Britons have personally invested in NFTs so far
44% of Americans believe NFTs are here to stay as compared to just 27% of Britons
With NFT sales surging to a new high this year, the hype over this latest digital phenomenon shows no sign of declining. From becoming a gamechanger for the art community when it first burst onto the scene, NFTs today are taking other businesses by storm, featuring in sports and gaming and even embraced by retail brands like Nike, Coca-Cola, and Gucci. However, despite its massive growth, the concept is still in its early stages and comes with a few red flags. With people willing to spend big money on these unique collectibles, how will the NFT market pan out in the days to come? What’s in demand, and where is all the action happening? Piplsay polled 30,870 Americans and 9,170 Britons to get some insights on this.
Here is a summary of what we found.
41% of Millennials in the US have personally invested in NFTs as compared to 33% of Gen Xers and 26% of Gen Zers
45% of Millennials in the UK have personally invested in NFTs as compared to 37% of Gen Zers and 18% of Gen Xers
Gaming-related NFTs are most popular with US Gen Zers (18%), while brand-related NFTs are most popular with Millennials (17%) and Gen Xers (17%)
Gaming-related NFTs are most popular with UK Gen Zers (15%) and Millennials (14%), while sports-related NFTs are most popular with Gen Xers (12%)
Survey Methodology: This Piplsay survey was conducted nationwide in the US and the UK from September 3-5, 2021. We received 30,870 and 9,170 online responses respectively from individuals aged 18 years and older.
Piplsay research reports reflect independent opinions of respondents and are not sponsored by any organization or individual. The survey questionnaires are based on key consumer trends.
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ZH: The poll’s results did raise a few eyebrows across social media. Here is a selection:
— Preston Pysh (@PrestonPysh) September 7, 2021
— Jay Hao (@JayHao8) September 7, 2021
Calling bullshit on that
— The_Real_Fly (@The_Real_Fly) September 7, 2021
There is a 0% chance this is true lmao
— Dr. Parik Patel, BA, CFA, ACCA Esq. 💸 (@ParikPatelCFA) September 7, 2021
Source: “trust me bro”
— gewoongary (@gewoongary1) September 7, 2021
Though Chris Whalen may have summed things up very succinctly…
Great metric for a nation of greater fools….
— R. Christopher Whalen (@rcwhalen) September 7, 2021