According to a CoinGecko survey, more than half of respondents believe that NFTs will play an important role in the future and have chosen the HODL(hold on for dear life) investing strategy.
Non-fungible tokens have played a part in the cryptocurrency market since 2014, but their demand and function have increased exponentially in the previous two years. In August 2021, the total business volume of NFTs surpassed $5 billion, and the rapid rise was called “NFT Summer.”
CoinGecko conducted an industry study and discovered that the NFT business volume might reach $800 billion in the next two years.
The poll sample included 871 investors from Asia and the Pacific area; more than half indicated they had owned five or more NFTs, while 72% said they already owned one NFT.
The poll was done on the basis of investors of all ages. For example, according to the data, 43.6% of NFT investors polled were between the ages of 18 and 30, while 45.2 % were between the ages of 30 and 50.
The renowned Bored Ape Yacht Club (BAYC) seems to be of interest to the majority of the non-fungible token market; 25% of respondents are interested in selecting art NFTs, while 35.8% are more inclined toward metaverse games and non-fungible tokens linked with play-to-earn.
According to a TeleGeography survey, 60% of traders chose personal computers for non-fungible token minting and trading.
According to the majority of respondents’ pre-purchase evaluation report, 38.5 % picked floor pricing, 23 % chose “strong community,” and 21.8 % preferred “artistic value.”
While the majority of market investors said that they are unwilling to sell non-fungible tokens at this time, more than half of respondents stated that they have embraced the HODL investing strategy and are waiting for a time when non-fungible tokens may have a better market value.
According to CoinGecko respondents, Ethereum is the dominant chain for NFTs, with 46.3% stating so, while Polygon is second with 13.8% saying.
