SNEAK PEEK
- According to recent marketing research, more than half of young people said they wanted an NFT or cryptocurrency for Christmas.
- According to Jonathan Merry, CEO of BanklessTimes.com, it is interesting to see how young people are devoted to cryptocurrencies and NFTs.
- Observing that 51% of young people want an NFT for Christmas while 55% want a cryptocurrency is equally noteworthy.
More than half of young people said they wanted an NFT or cryptocurrency for Christmas, according to recent marketing research. This is fairly unexpected given that digital assets aren’t typically given as Christmas presents and that this year has seen a decline in interest in those assets generally.
Young people’s commitment to cryptocurrencies and NFTs is intriguing to observe, according to Jonathan Merry, CEO of BanklessTimes.com. Gen Z is still interested in these technologies even in the wake of FTX’s demise and the decline in the cryptocurrency market. Future assets will be digital, and younger generations are well aware of this.
It’s also fascinating to notice that 51% of young people would like an NFT for Christmas, while 55% would like a cryptocurrency, despite the volatility of the digital asset market.
People in Generation Z, or those born in 1997 or earlier, were raised in an era of social media and the internet. They are more accustomed to accessing information online because they are digital natives, and many of them use Twitter and YouTube to consult “crypto-influencers” for guidance.
They also discover that navigating these online environments is a lot simpler. Studies suggest that the most popular ways for kids to make friends today are through social media and video games. A little over 57% of teenagers have at some point made a new buddy online.
Crypto astrology is just one particular illustration of how younger generations are abandoning conventional investing strategies in favor of less tried-and-true strategies, like meme stocks, crypto, and NFTs. The COVID-19 pandemic’s economic volatility has encouraged millennial and Gen Z investors to make large swings in high-risk, high-return transactions rather than let their money grow slowly.
The ability to take risks is another crucial component. The marketplaces for cryptocurrencies and NFTs are notoriously unstable. Notably, 13% of Gen Z and 11% of Millennials are considerably more willing to accept significant risk in exchange for a significant gain. Only 3% of Baby Boomers, in contrast, are prepared to make the same sacrifice.
Younger artists are also increasingly entering this profession. The NFT art market is quite easy to access, both to view and to enter.
