Non-fungible token (NFT) assets and decentralised finance (defi) were two very unique crypto movements in 2021, as billions of dollars in crypto rushed into these industries. Piplsay, a worldwide consumer research platform, interviewed 30,870 Americans and 9,170 Britons on September 7 to gain insight into what people believe about NFTs today. According to the survey, 48% of American respondents believe that NFTs are a “good and safe investment.”
Not long ago, most individuals had no idea what non-fungible token (NFT) assets were. However, cryptocurrency trends such as defi and NFTs have grown this year, and consumers are becoming more aware of the expanding industries. Recently, a few surveys with 1,000 or up to 10,000 participants have discussed their perspectives on the expanding NFT industry and whether or not they believe NFTs are a worthwhile investment.
Bitcoin.com News reported in December 2020 on a poll indicating that the NFT market had a lot more room to develop, which came true. Months later, when the NFT buzz was at its peak, another survey published in July found that three out of every four sports fans are doubtful about the sustainability of NFT investments. Piplsay’s survey is substantially larger than prior studies, since the team’s research polled nearly 40,000 respondents from the United States and the United Kingdom.
While 48 percent of those polled in the United States believe NFTs are an “excellent and safe investment,” only 22 percent of those polled in the United Kingdom believe the same. Only 5% of Britons have invested in an NFT, but 18% of Americans have done so. The study was performed recently, from September 3-5, 2021, and all participants were 18 years of age or older. According to the survey : 44% of Americans believe NFTs are here to stay as compared to just 27% of Britons.
When asked what they thought about NFTs, half of Americans stated they didn’t know anything about them or didn’t know what they were. Sixty-eight percent of Britons had no opinion or were unaware of the NFT space. NFTs are seen as a “revolutionary concept” by 32% of Americans, whereas only 15% of Britons believe the same. NFTs are considered an “absurd concept” by 18 percent of Americans and 17 percent of Britons.
According to the Piplsay survey, 24 percent of Americans believe that NFTs are “neither good nor safe,” while 45 percent of Britons believe that NFTs are not a good investment. According to 19% of respondents in the United States, the investment is “good but not safe.”
Only 21% of Britons agreed, and only a small percentage of both Americans and Britons believe NFTs are “safe but good” investments. Piplsay further segmented the study based on generational demographics. “In the United States, 41% of Millennials have personally invested in NFTs, compared to 33% of Gen Xers and 26% of Gen Zers,” Piplsay researchers stated.
According to the study, “45 percent of Millennials in the UK have personally invested in NFTs, compared to 37 percent of Gen Zers and 18 percent of Gen Xers.” “Gaming-related NFTs are most popular with US Gen Zers (18%), while brand-related NFTs are most popular with Millennials (17%) and Gen Xers (17%),” according to the poll.