This is a figure that reflects the enthusiasm generated by non-fungible tokens (NFTs) since 2021. More than 75% of cryptocurrency investors hold at least 1 NFT, according to a study by Coingecko and Blockchain Research Lab.
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NFTs very popular among crypto holders
This statistic was revealed following a study conducted jointly by Coingecko and Blockchain Research Lab. Nearly 450 people responded to the survey between December 2022 and January 2023, revealing that 75% of cryptocurrency holders own one or more NFTs.
We also learn that a small minority of 2.5% declared having held NFTs in the past, but this was no longer the case at the time of the survey. Finally, the remaining part explains that they have never owned NFTs for two main reasons: either they are not interested in this part of the ecosystem, or they have not yet found the project that suits them.
Questioned by our colleagues from Blockworks, Anthony Georgiades, co-founder of Pastel Network, explained that this figure was not surprising in the sense that this asset class is perhaps easier to understand for the general public:
“NFTs are certainly more accessible and enjoyable than cryptocurrencies in general. Getting started in the ecosystem is easier by buying an NFT”
Although NFTs have managed to break through beyond the sphere of the cryptocurrency ecosystem, notably through celebrities adopting a Cryptopunk or a Bored Ape as a profile picture on social networks, this sector remains very poorly understood by the general public.
Nevertheless, having a work of digital art that can be used as an avatar on social networks has probably convinced individuals that the discourse on cryptocurrencies has not convinced.
Regarding the reliability of this survey, it is important to note that for a question as simple as this (where the answer is binary, yes or no) a sample of around 500 people is representative. Indeed, if we multiply the number of people surveyed by 2 or more, the result will not vary by more than 1%.
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Once people set foot in the world of NFTs, they seem to keep buying and collecting more. At least 25% of NFT holders reported owning 51 or more at the time of the survey.
On the other hand, the second most numerous are holders of 2 to 5 NFTs. Note that those who own between 11 and 50 NFTs represent 18% of the holders.
Finally, only 4.8% of NFT holders own only one NFT. In view of the statistics mentioned above, this therefore suggests that people rarely stop collecting NFTs after their first purchase.
Regarding the date of purchase of the first NFT, nothing surprising in this study. Most people (38%) got their first NFT in 2021, when popularity really peaked. There is also a drop in enthusiasm in 2022, where only 27% of respondents said they had discovered NFTs.
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Source: CoinGecko
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Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.
Lilian Aliaga
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