A survey from DEXterlab revealed that almost all NFT traders are in it for the cash.
In response to the research, over 64% of NFT traders say they bought an NFT “to earn cash.”
Per the report, NFT investments can carry traders revenue once they make the fitting buy selections. An instance is the Blocksmith Labs collections which might have introduced an investor a 26x revenue inside three months.
The survey continued that the second purpose most traders pile into the area is to have a way of social belonging by belonging to a neighborhood and the “flex” of proudly owning sure NFTs.
In response to the report, investments in sure tasks will be tied to their sturdy neighborhood. The report used Bored Apes for instance and stated:
BAYC holders can entry extra NFT collectibles freed from cost or attend unique occasions.
Solely 12.4% of respondents are Digital Artwork collectors who purchase this stuff to maintain. The remaining 8.6% of NFT traders purchase the property for games-related functions like having in-game entry to particular options and instruments.
In the meantime, a mean investor is prepared to spend between $50-$500 on an asset.
25.5% of people that participated within the ballot, (are) paying greater than $2,000 USD for a single NFT.
Most NFT traders but to make a revenue
Whereas most NFT traders say they’re in to earn cash, most of them are but to revenue from their investments within the area.
In response to the report, round 58% of NFT traders are but to revenue from the area. Alternatively, the remaining 42% declare their funding in NFTs has introduced them a large return.
For context, investments in free mint NFT tasks like Goblintown.wtf would have introduced in over 200% revenue for traders inside the final thirty days.
Nonetheless, people who might need piled into blue-chip collections inside the similar timeframe could be at a loss as a result of the ground value of most collections lately dropped due to the general market downturn within the crypto business.