CoinGecko, a cryptocurrency analysis platform, recently released the results of a poll that sheds light on the behaviour of non-fungible token (NFT) holders. The report, published on April 6, 2023, shows that the majority of NFT holders own 51 or more NFTs, with only a small group of respondents owning just one.
CoinGecko collaborated with Blockchain Research Labs to conduct the poll, which analyzed 438 responses from December 2022 to January 2023. The study revealed that 26.5% of NFT owners identified themselves as “avid collectors” and owned 51 or more NFTs. This group is believed to represent individuals who are particularly enthusiastic about NFTs.
The poll also indicates that NFTs have gained significant popularity among cryptocurrency owners, with up to 75.8% of respondents including NFTs in their portfolio. The majority of participants reported currently holding one or more NFTs.
However, the poll found that only about two out of ten cryptocurrency owners have ever held NFTs. This suggests that a significant number of cryptocurrency owners may not be interested in or actively oppose NFTs.
Of all NFT holders, 25.8% owned between 2 to 10 NFTs, while 18.7% of holders held between 11 to 50 NFTs. The second most common group of holders were those with 2 to 5 NFTs. In contrast, only 4.8% of NFT holders owned just one NFT. This suggests that people tend to continue participating in NFTs trading even after acquiring their first one.
Most people obtained their first NFT in 2021, during the first bull market of that year, when demand for NFTs skyrocketed. According to the same study, 38.8% of respondents, or almost 4 out of 10 people, started investing in NFTs in 2021.
The expansion of the NFT market largely depends on its adoption, which can be facilitated by making it easier for consumers to try NFTs for the first time. The popularity of this technology is further supported by NFT collections from prominent companies such as Starbucks and Adidas, as well as the availability of seamless NFT experiences like Reddit’s Collectible Avatars.
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