DEXterlab’s Survey Shows Most Investors Lost Money From Buying NFTs

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.

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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.

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Bryan Yanzon

Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.