60% of NFT owners ignorant about utilities


  • Only 6% of people have purchased utility NFTs.
  • 13% of interviewees thought ticketing was the most massive benefit of NFTs.
  • The most major benefit of owning an NFT was the ability to profit.

According to a report, 60% of NFT consumers are unaware of the NFT Utility. Sixty percent of NFT users have heard of it. Only 6% of respondents have purchased one or more utility NFTs.

A utility is a non-fungible token that may be used for purposes other than trading, gathering, or earning. These “Utility NFTs” have been heralded as the digital content of the coming years.

Earning a profit or expanding their funds was the most significant advantage of having an NFT (31%). At 22%, asset holding was the second-most significant factor.

Only 13% of participants said the most significant advantage of NFTs was ticketing. However, this was the choice of the biggest proportion of new customers, indicating that the ticketing use case is helping NFTs become more popular.

The NFT market‘s availability might be a significant hurdle to its expansion. The ability to utilize a credit card is the second-most crucial element for customers buying NFTs. In the poll, 30% of respondents listed this as their top priority.

People must comprehend the maximum potential of these unique digital products as the NFT business grows and evolves. By educating customers on these more extensive use cases and showing how NFTs may improve their lives, the sector can gain confidence and trust with a wider audience.

Companies must realize that, as with any other item or service, there are diverse advantages for users that vary by consumer category and cannot be replaced with on-chain information. Diverse NFT advantages and experiences help attract audiences depending on a variety of characteristics such as demographics, web maturity, and value offered.