April 10, 2023

At Least 1 in 4 NFT Holders is Avid Collector, Study Says

NFTs

NFTs

A recent study by CoinGecko found that many NFT holders did not get enough by collecting one NFT and still wanted to buy more.

CoinGecko’s study surveyed 438 responses from December 2022 to January 2023 in conjunction with Blockchain Research Labs, according to Cointelegraph.

The study found that at least one in four NFT holders (26.5%) said that they are enthusiastic collectors as they possess at least 51 NFTs or more. Commenting on this percentage, CoinGecko said: “This suggests that people rarely stop participating in NFTs after their first one.” as they are considered the most enthusiastic people about the NFTs.

The survey showed that the people who possess two to five NFTs came in second place with a percentage of 17.6%, while the NFT holders who have only one digital collectible are only 4.8% of the surveyed.

The study also found that 38.8% of the participants got their first NFT during the first bull market of 2021. In 2022, at a time in which the crypto scene was bearish, more than 25% of the participants acquired their first NFTs during the year.

According to it, only 2.9% of the surveyed had their first NFT in 2017 in conjunction with the launch of the Crypto Kitties and CryptoPunks NFT collections.

Earlier, Metajuice, a metaverse platform, found that almost three out of four NFT collectors purchase NFTs on its platform for status, aesthetics, and uniqueness.

Although the NFT sales are not as high as their peak in 2021, NFT collectors are still purchasing NFTs for various reasons.

Metajuice surveyed more than 6,000 NFT users to know their motivations behind NFT purchases. It found that 74% of the NFT collectors bought NFTs due to the status that they give, while 13% of the surveyed said they had bought the NFTs to resell them in the future.

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