{"id":17625,"date":"2024-10-17T02:06:37","date_gmt":"2024-10-17T02:06:37","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2024\/10\/17\/poll-two-thirds-of-investors-are-still-betting-on-nfts-despite-the-falling-market\/"},"modified":"2024-10-17T02:06:37","modified_gmt":"2024-10-17T02:06:37","slug":"poll-two-thirds-of-investors-are-still-betting-on-nfts-despite-the-falling-market","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2024\/10\/17\/poll-two-thirds-of-investors-are-still-betting-on-nfts-despite-the-falling-market\/","title":{"rendered":"Poll: Two-Thirds of Investors are still Betting on NFTs, despite the Falling Market"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">The NFT market, once a booming sector of the cryptocurrency space, has faced a major decline since late 2022. Despite this downturn, many investors remain hopeful about the future of NFTs, while others are choosing to leave the market for various reasons.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our recent survey aimed to find out whether <\/span>people are staying or leaving the NFT market<span style=\"font-weight: 400;\">\u00a0and the main factors influencing their decisions. This research report presents the key findings of this survey, exploring why some investors continue to hold on to their NFTs, why others are exiting, and what the future might hold for the NFT market.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Findings\"\/><b>Key Findings<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Although 96% of NFTs are considered \u2018dead\u2019, almost<strong>\u00a0two-thirds<\/strong> of NFT investors plan to continue <strong>staying\u00a0in the NFT market.<\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>57% <\/strong>of NFT owners choose <strong>profit as their main reason to stay <\/strong>invested in NFTs, with <strong>80.7%<\/strong> of them aiming for <strong>long-term profits.<\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">When facing a significant drop in NFT prices, <strong>69.7% of long-term investors<\/strong> <strong>keep holding<\/strong> their NFTs and wait for the market to recover.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>1 out of 3 investors <\/strong>wants to leave the market due to the <strong>decline in NFT prices<\/strong>.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Among investors who lost interest in NFTs, <strong>55.1%<\/strong> admitted it is because <strong>the hype surrounding NFTs is dead.<\/strong><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"2_Out_Of_3_Investors_Plan_to_Continue_Holding_NFTs\"\/><b>2 Out Of 3 Investors Plan to Continue Holding NFTs<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">Even though there are significant challenges facing the NFT market, a large number of investors remain committed. Despite reports that <\/span><a href=\"https:\/\/nftevening.com\/are-nfts-dead-2024\/\" data-wpel-link=\"internal\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">96% of NFTs are considered \u201cdead\u201d<\/span><\/a><span style=\"font-weight: 400;\"> (meaning they have little or no activity or value), <\/span>66.5% of NFT holders plan to stay in the market, while the rest are planning to leave the market.<\/p>\n<p>Among those who choose to stay in the NFT market, 67.3% of investors believe that the growth of NFTs will be driven by positive market sentiment and increased adoption. Those are confident that NFTs have long-term potential and will continue to expand as more industries adopt the technology.<\/p>\n<p>A significant portion, 36.7%, see positive market sentiment as a key factor, while 30.6% point to the growing use of NFTs across various industries as a reason for their optimism. Additionally, 19.6% are excited about upcoming NFT projects, and 13.2% believe that new regulatory developments will further support the market\u2019s growth.<\/p>\n<p><b\/><\/p>\n<p>Among those planning to leave the NFT market, 65.5% of investors intend to sell all their NFTs before making their exit. This reflects a desire to fully liquidate their assets, with 65.5% committed to selling everything, 22.33% planning to sell only part of their NFT collection, and 12.14% choosing to hold onto their NFTs, possibly in hopes of future gains despite their exit.<\/p>\n<p>Furthermore, 72.3% of these investors plan to leave the market by 2026, indicating a clear timeframe for their departure. Of this group, 36.4% aim to exit within 2024, and 35.9% in 2025, while 27.7% remain undecided, potentially waiting for market conditions to improve before finalizing their decision. This suggests that while many have lost confidence, some are still weighing their options before fully leaving.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Reasons_Investors_Still_Stay_With_NFTs\"\/><b>Reasons Investors Still Stay With NFTs<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p>For 56.97% of NFT holders, profit is the primary factor influencing their decision to remain invested in the market. Other motivations, while less common, also play a role in keeping investors engaged. About 19.8% of holders stay because of the practical utility and benefits NFTs offer, such as rewards or exclusive access to events.<\/p>\n<p>Meanwhile, 10.76% of investors are motivated by a desire to support the NFT community, finding value in shared interests and connections. Lastly, 12.47% of holders continue investing due to their interest in NFT art.<\/p>\n<h3><b>Earning Profits from NFTs<\/b><\/h3>\n<p>Among those who focus on earning profits, most NFT holders make money through a few key methods. About 42.1% engage in flipping NFTs, where they buy low and sell high. Another 37.3% earn profits from utility benefits, such as in-game rewards or digital assets, while 29.6% benefit from airdrops\u2014free NFT distributions.<\/p>\n<p>Additionally, 29.2% of investors create and sell their own NFTs, and 22.7% choose to hold their NFTs (HODL) with the hope of future value increases.<\/p>\n<p>Among the investors focused on earning profits, 80.7% are holding their NFTs to achieve long-term profits. In contrast, only 19.3%<span style=\"font-weight: 400;\"> are aiming for short-term gains, indicating that the majority of investors are willing to wait for the market to mature and deliver returns over a longer period.<\/span><\/p>\n<p>Among people who choose long-term profits, 32.4% intend to invest in NFTs for at least three more years. Meanwhile, 31.4% expect to hold their assets for one to three years, and 3.2% for less than a year, while 31.4% are undecided about their holding time.<\/p>\n<p>Among these, when NFT prices drop, 69.68% of long-term investors choose to hold their NFTs and wait for the market to recover, showing their resilience and confidence in the market\u2019s future. Meanwhile, 12.77% opt to sell a few of their NFTs during such downturns, and 16.49% take advantage of the dip by buying more NFTs.<\/p>\n<p>Only a small fraction, 1.06%, decide to sell all their NFTs in response to falling prices. This behavior suggests that long-term investors are less sensitive to short-term market changes and are more likely to remain invested.<\/p>\n<p>On the other hand, short-term investors have different strategies. About 42.2% said they would sell their NFTs and leave the market once their profits exceed 20%.<\/p>\n<p>Within this group, 6.7% aim for a profit margin of 10-20% and 28.9% hold out for more than 50%. Meanwhile, 22.2% don\u2019t have a specific profit goal, instead deciding based on market conditions. These short-term investors are more likely to exit the market as soon as NFT prices rise to meet their expectations.<\/p>\n<h3><b>NFT Utility &amp; Benefits<\/b><\/h3>\n<p>Among those who prioritize NFT utility &amp; benefits, airdrops emerge as the most significant factor, with 48.1% of investors indicating that the potential for receiving free NFTs contributes to their commitment to the market.<\/p>\n<p>Additionally, 35.8% of investors value blockchain game items, which enhance their gaming experiences, while 43.2% appreciate exclusive perks and access that come with certain NFTs. Furthermore, another 35.8% of respondents recognize the appeal of real-world assets linked to NFTs, which can add tangible value to their digital investments.<\/p>\n<h3><b>Supporting The NFT Community<\/b><\/h3>\n<p>For those who prioritize supporting the community, a shared interest in NFTs and related projects is the main reason for 49.3% of investors to join NFT communities.<\/p>\n<p>Additionally, 35.2% value making connections with like-minded people. Furthermore, 15.5% are drawn to these communities for updates on news and events in the industry. This shows how being part of a community helps investors connect with others who have similar interests.<\/p>\n<h3><b>Interest in NFT Art<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A love for artwork design drives <\/span>47.2% of investor\u2019s interest in NFTs. Supporting favorite artists is a reason for 11.1% of these investors, while 41.7%<span style=\"font-weight: 400;\"> are attracted to the uniqueness of certain pieces. This interest highlights how artistic appeal plays a significant role in attracting investors to the NFT art market.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Reasons_Investors_Want_to_Leave_NFTs\"\/><b>Reasons Investors Want to Leave NFTs<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">Approximately one in three investors considers exiting the NFT market because of falling prices, with <\/span>33.5% citing this as their main reason.<\/p>\n<p>Additionally, 13.6% of investors feel discouraged by the lack of utility in NFTs, while 12.1% point to the failure of major projects as a concern. Furthermore, 17% are worried about the rise in scams and fraud, and 23.8% have simply lost interest in NFTs.<\/p>\n<h3><b>Loss of Interest in NFTs<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Of the people who have experienced a \u201cLoss of Interest\u201d, <\/span>55.1% feel that the excitement around NFTs has faded away. Many believe that the initial buzz is no longer present, leading to a decline in their enthusiasm.<\/p>\n<p>Additionally, 16.3% of investors think that the projects currently available are not innovative or creative enough. As a result, 24.5% of them are exploring other areas that capture their interest more. Only 4.1% cited other reasons for their lack of interest in NFTs. This trend shows how important ongoing innovation is to keep investors engaged in the NFT market.<\/p>\n<h3><b>Increasing Scams and Fraud<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">When it comes to worries about NFT scams, over half of the respondents (<\/span>57.1%) have not encountered any scams or fraud in the past six months; they have only heard about others experiencing these issues. Meanwhile, 20% reported being involved in one scam, and 14.3% experienced two to three scams.<\/p>\n<p>Additionally, 8.6% said they faced more than three scams. While most investors have not personally experienced fraud, the awareness of these risks can impact their overall confidence in the NFT market.<\/p>\n<h3><b>Lack of Utility in NFTs<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">For those who feel that NFTs lack utility, real-world assets are the most appealing benefit. About <\/span>71.4% of investors said that the connection to real-world items would encourage them to stay involved with NFTs.<\/p>\n<p>Other factors also play a role, with 42.9% appreciating exclusive perks and access, 35.7% interested in potential future airdrops, and 28.6% attracted to blockchain game items. This highlights that practical benefits are crucial for maintaining investor interest in NFTs.<\/p>\n<h3><b>Failure of Major NFT Projects<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Of those people who are concerned about the failure of major projects, <\/span>44% of investors reported that more than half of the projects they invested in have failed.<\/p>\n<p>Specifically, 36% said that between 30% and 50% of their investments did not succeed, while 12% experienced failures in 10% to 29% of their projects. Only 8% reported that less than 10% of their investments failed. This indicates a significant concern among investors about the reliability and success of NFT projects.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Methodology\"\/><b>Methodology<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">We conducted a survey with <\/span>943 cryptocurrency owners<span style=\"font-weight: 400;\"> to gather insights about their experiences with NFTs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In terms of age, 31.2% of our respondents are aged 12 to 27, which falls under Generation Z, while 52.5% are aged 28 to 43, representing the Millennial generation. Additionally, 12.9% are between 44 and 59 years old, known as Generation X, and 3.4% are over 60.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding gender, 36.7% of the participants identify as female, 62.7% identify as male, and 0.6% prefer not to disclose their gender.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Geographically:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">42.2% are from the Americas (North, South, Central America, and the Caribbean)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">11.9% are from the Asia Pacific (Central &amp; South Asia, Northeast and Southeast Asia, Australia, and Oceania)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">20.9% are from Europe<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">25% are from the Middle East and Africa<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When asked about NFT ownership, 65.2% of respondents confirmed that they currently own NFTs. In terms of how long they have owned NFTs, 14.1% have held them for less than one year, 36.4% have owned them for one to two years, 29.4% for two to three years, and 20% have owned NFTs for over three years.<\/span><\/p>\n<\/div>\n<p><a href=\"https:\/\/nftevening.com\/will-people-stay-or-leave-nfts\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=will-people-stay-or-leave-nfts\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The NFT market, once a booming sector of the cryptocurrency space, has faced a major decline since late 2022. Despite this downturn, many investors remain hopeful about the future of NFTs, while others are choosing to leave the market for various reasons.\u00a0 Our recent survey aimed to find out whether people are staying or leaving [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2024\/10\/unnamed-2.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/17625"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=17625"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/17625\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/17626"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=17625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=17625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=17625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}