A third of NFT buyers don’t know what to do with them
Due to the significant drop in the NFT market in 2022, now some users do not know what to do
A third of non-fungible token (NFT) buyers currently don’t know what to do with them, reflecting the decline in popularity of this digital asset after peaking a couple of years ago.
The NFT market suffered a drop of more than 90% in 2022, mainly due to the collapse of some cryptocurrencies such as Luna or FTX. OpenSea, the largest sales platform for these crypto assets, went from selling $3 billion in September 2021 to $350 million in September 2022.
The fall in its value has questioned the viability of the future of NFTs and, in this sense, according to the Hiscox Online Art Report 2023, 36 % of those who own assets of this type affirm that their intention is to sell part of their collections and 6 % would donate them to charitable causes.
By contrast, 43 % of buyers say they will keep their NFTs for personal enjoyment, 28% would like to display them in the metaverse, and 19 % in a physical museum or gallery. However, the report highlights that there is “a third” of the owners of these assets who do not know what to do with them.
Source: dpa
(Reference image source: Andrey Metelev, Unsplash)
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