- Survey from DEXterlab shows 64.3% of investors buy NFTs to make money.
- The survey revealed most investors lost money from NFTs.
- Almost half of the NFT owners are comfortable spending between $50 to $500.
DEXterlab, a crypto and NFT data aggregator platform, disclosed that most NFT investors are looking to gain extra income.
The survey, which was conducted via poll votes on Twitter, shows 64.3% of NFT owners responded they purchased NFTs ‘to make money’.
According to the study, investors will be able to gain profit through NFTs upon making the right purchase decisions. This includes the timing of an NFT purchase when its price is at the lowest and selling it after the price surges.
14.7% of the respondents said they purchase NFTs to belong in a community, where they could possibly gain certain connections and show off owning a particular NFT.
The survey shows that only 12.4% of the respondents are into Digital Art collections to collect NFT artworks for themselves. Lastly, 8.6% respondents said they purchase NFTs to get access to their favorite blockchain games or access to features and tools.
Furthermore, 48% of these NFT investors said they are comfortable to spend between $50 to $500 on NFTs, 25.5% who voted in the poll said they paid more than $2,000, and the remaining voted between $500 to $2,000.
In an additional survey conducted by the firm, around 58% said they lost money on NFTs or haven’t made any profit out of it yet. On the contrary, 42% of the NFT owners have gained profit from their purchase.
The study shows that investing in NFTs has its ups and downs. Even though the majority of reasons why people buy NFTs is to make money, most of its investors haven’t made a profit from it yet.
Recommended News :
Crypto News Land (cryptonewsland.com), also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.