74% of survey participants say they buy NFTs for status


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

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Whereas present NFT gross sales usually are not as excessive as throughout the peak in 2021, the house nonetheless holds on, with customers giving numerous causes for purchasing NFTs.

High 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 concerned with NFTs for the standing that they offer. Alternatively, 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 more likely to run into individuals with the identical gadgets as me. I like being distinctive and standing out. With an NFT, after I see another person with it, it appears like solidarity.”

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

Associated: Emojis depend as monetary recommendation and have authorized penalties, decide 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 {Club} has already grow to be a standing image throughout the crypto house. The chief in contrast this to proudly owning luxurious automobiles and homes.

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