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74% of survey individuals say they purchase NFTs for standing


In keeping with metaverse platform, Metajuice, virtually three out of 4 of the nonfungible token (NFT) collectors on its platform buy NFTs for standing, uniqueness and aesthetics.

Whereas present NFT gross sales aren’t as excessive as in the course of the peak in 2021, the house nonetheless holds on, with customers giving numerous causes for getting NFTs.

Prime 10 blockchains by NFT gross sales within the final 24 hours. Supply: Cryptoslam

In an announcement despatched to Cointelegraph, Metajuice highlighted that their group surveyed over 6,000 NFT customers to find the motivations behind NFT purchases. The survey outcomes confirmed that among the many causes laid out by the researchers, standing out and carrying the NFTs as their avatar have been the highest causes for NFT purchases.

As well as, 74% of the respondents highlighted that they’re involved in NFTs for the standing that they provide. However, 13% p.c of the survey individuals mentioned that they’re shopping for NFTs to resell them sooner or later.

One survey participant with the username “Flexfactor” mentioned that uniqueness and standing out are causes for leaping in. They defined:

“I like the truth that it’s much less prone to run into folks with the identical objects as me. I like being distinctive and standing out. With an NFT, once I see another person with it, it seems like solidarity.”

John Burris, the president of Metajuice, mentioned that proudly owning NFTs to show their digital objects brings added worth. In keeping with Burris, it builds a “communal notion of status-led developments” within the metaverse. Individuals wish to personal the rights to objects that enhance their perceived standing, and the way they seem within the metaverse as NFTs are a key a part of that,” he added. 

Associated: Emojis rely as monetary recommendation and have authorized penalties, choose guidelines

Actual Imaginative and prescient CEO and co-founder Raoul Pal additionally just lately expressed his perception that NFTs will carry out equally to high-end properties in market increase cycles. On Feb. 21, Pal defined in a YouTube video that proudly owning main collections like CryptoPunks and Bored Ape Yacht Membership has already turn out to be a standing image inside the crypto house. The manager in contrast this to proudly owning luxurious automobiles and homes.