Close to half of the surveyed non-fungible token (NFT) owners actively trade NFTs to earn profits, while the other half of holders mainly bought their NFTs either “to collect” or “for their utility,” according to a survey conducted by coin tracking site CoinGecko on Twitter.
The so-called NFT flippers, who – like traders – aim to buy low and sell high, were the biggest category of NFT buyers in CoinGecko’s survey, with 42% of respondents saying flipping was their main reason for buying.
The flippers were followed by NFT collectors, who made up 26% of the respondents.
Furthermore, those who said they bought NFTs for their utility, for example for use in a game, made up 25%.
Worth noting, however, is that fewer than half of the respondents said they have made a profit from their NFT trading, while 23% said they are ‘HODLers’ – or collectors – with no aim of turning a quick profit.
70% of respondents said NFTs are only a minor part of an overall crypto investment portfolio, making up between 0% and 25% of their portfolios.
In the meantime, the study additionally discovered that most NFT proprietors utilized the OpenSea commercial center to gain their piece of crypto workmanship. With nearly 59% saying they utilized this stage, this outcome is striking given that contending stages like LooksRare, and even trade-possessed commercial centers like Binance NFT and Coinbase NFT, have jumped up.
The overview further found that most NFT clients depend on the Ethereum (ETH) network for their exchanges, with 46% picking it as the organization they utilized. Ethereum was trailed by Polygon (MATIC) and Solana (SOL) as the second and third most well-known blockchain networks for NFT exchanging.
Ultimately, CoinGecko’s study report said that the most well-known method for searching for new NFT projects is through either the informal organization Twitter or the informing stage Discord.
The report depicted these devices as being “divided” and having applicable data “dispersed among different clamors,” yet said they seem, by all accounts, to be “the most ideal choice to coincidentally find crisp out-of-the-stove projects.”
For additional particular apparatuses, for example, the aggregator stage Rarity Tools, the review viewed utilization as low, with just 1.4% of respondents saying they utilized it.
After purchasing an NFT, the most widely recognized method for following the market worth of the craftsmanship piece is through apparatuses accessible on the commercial center itself, as opposed to through uniquely designed accounting sheets or other custom-made approaches, the report said.
CoinGecko’s overview answers were gathered through a Twitter survey, and the number of members shifted somewhere in the range of 394 and 874. Most of the respondents were from the Asia-Pacific district, which CoinGecko expressed leads in NFT reception all around the world.