With the surging properly-appreciatedity of nonfungible tokens (NFTs), many have taken to “flipping” these belongings as a buying and promoting method. Round 64% Of people in a current survey said their prime set off For buying for an NFT was “to Earn money.”
Blockchain monitoring Computer software agency DEXterlab balloted Greater than 1,300 people on Twitter about their NFT buying for habits from late Might to early June. Regardless of a majority Making an try To understand from NFT buying and promoting, Decrease than 42% have made a revenue So far, Based mostly on The outcomes.
Why do You buy NFTs?
— DEXterLab (@Dexterlabknowledge) Might 27, 2022
The second most cited set off For buying for an NFT noticed around 15% reply that it was to be An factor of a group and “to flex.”
“Individuals are extremely social creatures, so The will to be Half of a group and Exhibit isn’t actually surprising,” DEXterlab wrote.
The group highlighted the success of the Bored Ape Yacht Membership (BAYC), which has celebrities amongst its ranks Collectively with unique perks like entry to holder-solely occasions or new properly-appreciated NFT drops.
Although some NFT assortments, Similar to these of the BAYC, can typically see flooring prices Inside the tens or lots of of hundreds, virtually half of replyents said they have been solely snug paying a modest worth of between $50 to $500 for an NFT.
Surprisingly, the …….