NFT Survey Finds ‘Status’ a Driving Force for Asset Purchases
A new survey by Metajuice, a Metaverse platform, has found that most NFT buyers do it for the status that assets bring. The study took place among 6,000 NFT holders, with three out of every four individuals revealing they were motivated by status, uniqueness, and aesthetics.
NFTs have gained popularity worldwide over the past few years thanks to their unique properties. Among some of the top use cases are authentication for digital art, music, and other forms of creative content.
With the survey, Metajuice notes that it wanted to find out what some of the reasons were why NFT owners bought these unique digital items. Among the top reasons offered was the ability to stand out. The other commonly cited reason was to be able to wear these digital collectibles as avatars on social media accounts.
Interestingly, around 74% of those that participated in the survey made it clear they were interested in NFTs for the status they got from them. On the other hand, another 13% of the respondents noted that they bought NFTs to resell them in the future.
Uniqueness And Ability To Stand Out Motivates NFT Buyers
One respondent to the survey who goes by the pseudonym “Flexfactor” cites uniqueness and standing out as the reasons they are invested in non-fungible tokens. In a statement, they note:
“I like the fact that it’s less likely to run into people with the same items as me. I like being unique and standing out. With an NFT, when I see someone else with it, it feels like solidarity.”
NFTs will play a key role in proving ownership, especially in the Metaverse; thus, as John Burris, the president of Metajuice, notes, they add value or status to the holder. People who own rights to various digital items see their perceived value rise.
Raoul Pal, cofounder and CEO of Real Vision, also shares a similar sentiment. In a recent interview, he notes that NFTs will perform similarly to high-end properties. Before adding that owning a piece from a high-end collection like BAYC or CryptoPunks has become a status symbol within the crypto space.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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