Survey: There Is ‘Vital Room’ for the NFT Market to Develop Regardless of Widespread Lack of Information Amongst Individuals

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A survey of NFT (Non-Fungible Token) trends among crypto users found that 47% of correspondents had heard of NFT and 63% of them only had a basic understanding of it, while 57% of them had never used it.

Survey shows that the general user only has a basic understanding of the NFT market

According to research by Crypto Exchange Crypto.com, collectibles (47%) and games (33%) are the most common types of NFT.

Almost half of the respondents, or 49%, aimed for financial gain by investing in NFT, according to the study. In contrast, OpenSea is the most popular marketplace among respondents, as 54% of respondents stated.

Interest in respondents is not limited to NFTs, however, as the survey found that a majority of them (74) admitted to having used decentralized financial products (defi). Additionally, the study indicated that most respondents felt that NFTs “are the next trending topic after DeFi” and that NFTs “are a useful innovation”.

Eric Anziani, COO of Crypto.com, spoke to news.Bitcoin.com about the rationale for the research:

While the crypto world has focused on decentralized finance and Bitcoin all-time highs, non-fungible tokens have quietly gained serious pull in 2020. After growing steadily over the past year, nearly $ 8 million was traded in the NFT market last month. However, there is limited research into the awareness of the NFT, its uses, and barriers to adoption.

The NFT market can grow significantly

Anziani said her research of nearly 30,000 users found that nearly half hadn’t heard of NFTs and that “the market can grow significantly in 2021 as people begin to see the potential value and benefits of NFTs”.

According to other figures from the survey, 48% of respondents said that tokenization of real non-fungible assets would be the “most beneficial aspect for NFT”. In addition, 61% of respondents expressed concerns about the “novelty of technology” they heard from NFT.

In the latest developments in the NFT landscape, an artist who calls himself “Beeple” raised $ 3.5 million during his most recent auction for non-fungible token art collections.

What do you think of the results of the survey? Let us know in the comments below.

Tags in this story

Blockchain Art, Blockchain-Assisted Art, Collectibles, Crypto, Crypto Collectibles, Cryptocurrency, DeFi, Digital Assets, ETH, Ether, Ethereum, Gaming, nft, Non-Fungible Token, Non-Fungible Token (NFT), Non-Fungible Token, Survey, Surveys

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