- A survey shows that 64.3% of investors buy NFTs to make money.
- The survey revealed most investors lost money from NFTs.
- Half of the NFT owners spend between $50 and $500.
The popularity of NFTs has made people flip their assets as a trading strategy. According to a recent survey, 64.3% of people said that they buy an NFT to make money.
DEXterlab, a blockchain monitoring software company, polled 1,300+ people on Twitter regarding their NFT buying habits from late May to early June. As per the results, though most people intended to gain from NFT trading, less than 42% earned profit.
Why do you buy NFTs?— DEXterLab (@Dexterlabdata) May 27, 2022
Coming to the second most stated reason for buying an NFT, around 15% of people said it was to be a part of a community and flex.
People are highly social creatures, so the desire to be a part of a community and show off isn’t really surprising.
No matter, specific NFT collections like BAYC often see floor prices in the tens or hundreds of thousands; nearly half of respondents stated being comfortable paying between $50 to $500 for an NFT.
How much I’m comfortable spending on an NFT?— DEXterLab (@Dexterlabdata) May 31, 2022
What came as a surprise was that almost a quarter of respondents showed interest in spending in the upper limits of the poll, i.e., more than $2,000 per NFT.
Over the past 30 days, some of the largest blue-chip NFT collections like CryptoPunks, Mutant Ape Yacht Club, BAYC, and Moonbirds have halved their floor prices or market caps. Despite this, these collections topped the charts for the top NFT sales during the same period.
How does your NFT journey going?— DEXterLab (@Dexterlabdata) June 2, 2022
Goblin-town, a free-to-mint collection with no utility or roadmap, topped the charts and has since maintained its position in third place over 30 days seeing approximately $70 million in volume lately.
According to a recent DappRadar report, sales volumes for NFTs came in at $3.7 billion last month. Also, Solana NFTs generated $335 million in volume across all marketplaces, a 13% growth from April.