Crypto Community Sees Advantages of Owning NFTs; 52% Want to Buy with Credit Cards

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Summary

  • 92% of the participants in a recent report saw an advantage in owning an NFT.
  • 31% value NFTs‘ ability to earn and save money the most.
  • 52% of survey respondents prioritize being able to purchase with their credit cards.

Advantage of Owning NFTs

The vast majority of respondents in DappRadar and Alsomine’s recent joint report think owning an NFT is advantageous, while slightly over half prioritize being able to pay for NFTs using their credit cards. Of the 92% who see an advantage in owning an NFT, 65% see a „big advantage“ while 27% see „some advantage“. The specific advantages include: earning/saving money (31%), asset ownership (22%), gaming/metaverse functions (19%), and membership/access privileges (18%).

Purchasing Preference

When it comes to purchasing NFTs, 52% ranked „being able to purchase with credit cards“ among their top two priorities. This number is driven by 38% of experienced users who own a digital wallet or have bought crypto before. Women also appear more inclined toward paying with their credit cards when purchasing NFTs.

On-Chain Trading Volume

At the end of 2022, the on-chain trading volume was sitting at $24.7 billion, marking a slight decrease from 2021’s $25.1 billion. Despite this dip, the number of unique trades recorded a 19.75% increase compared to 2021, reaching 6.9 million at the end of 2022. This shows that the market remains resilient despite crypto winter conditions.

Conclusion

Overall, this report highlights that 92% of participants believe there is an advantage in owning an NFT while 52% prioritized being able to buy them via credit card when making purchases. Additionally, although on-chain trading volume has seen some decrease from last year’s numbers due to crypto winter conditions, the market remains resilient as evidenced by a 19.75 % increase in unique trade numbers since 2021’s total figures..