Notwithstanding the disputes, digital assets are attracting an increasing number of individuals. According to a CoinGecko poll, 75% of crypto investors also possess NFTs. CoinGecko did not elaborate on the reasons for this increased interest in NFTs. But, according to several experts, one of their greatest benefits is their accessibility.
CoinGecko performed research with 438 cryptocurrency investors between December 2022 and January 2023. According to the findings, more than 75% of crypto investors also possess NFTs. According to CoinGecko data, one in every four people does not exclusively possess oneNFT. They are typically ardent collectors. They must have at least 50 NFTs. Just 4.8% of NFT holders say they have only one NFT.
The Use Cases for NFTs are Expanding
21.7% of those polled indicated they have never held an NFT. 2.5% claim to have previously owned NFTs but have since sold them all. Anthony Georgiades, the founder of Pastel Network, discussed the findings of the CoinGecko investigation. He believes the estimates are slightly exaggerated. Yet, this does not change the fact that NFTs are becoming increasingly popular among crypto investors. “NFTs are unquestionably more approachable and fun than cryptos,” he continued.
This year has seen a significant increase in the number of NFT holders. A similar trend may be noticed in use cases. The primary applications of NFTs include games, event exclusivities, and secure access to immersive experiences, both online and offline. It also applies to the real estate industry, for example. Investors recently purchased a property in Texas tokenized on Solana.
NFTs have gained widespread recognition for their application in the art industry, empowering artists to vend their digital creations as distinct and exclusive assets. This has ushered in fresh income sources for artists while also enabling collectors to acquire exceptional and prized digital art pieces.
The music industry has also adopted NFTs, which are being utilized to market exclusive music tracks and albums as well as concert tickets. This has provided musicians with novel monetization options while enabling fans to acquire distinctive and scarce music assets. Similarly, the sports world has embraced NFTs to create exceptional collectibles and merchandise, granting fans the opportunity to own uncommon and valuable items related to their preferred teams and athletes.
