Data analysis confirms that crypto investors are still bullish on non-fungible tokens despite their markets suffering the recent prolonged general market meltdown. The crypto market meltdown began sometime mid-last year and has left many NFTs in turmoil.
Over 78% of NFT Holders Still Bullish On NFTs
According to the Coin Wire survey, a cryptocurrency data and NFT aggregator, many NFT investors still have faith in NFTs, despite these digital assets suffering industry threats such as crypto scams and the recent crypto market winter.
The new survey polled roughly 10,000 NFT users and found that four out of five still believe in the future of NFTs, representing more than 78 %. The crypto data aggregator conducted the new survey in December 2022.
During the research, Coin Wire also found that the NFT market value skyrocketed 122 times to more than 12.2 billion since the beginning of 2020. The survey also found that the number of NFT holders rose over 250%, increasing from just 1.5 million to 3.7 million.
The data aggregator platform found Yuga Labs NFT collection dominated the market sales, amassing more than $3.5 billion worth of trading. Yuga Labs is home to popular NFT collections such as the Bored Ape Yacht Club and Mutant Ape Yacht Club.
Yuga Labs holds IP rights for CryptoPunks, Meebits, and the 10KTF collection. The NFT incubation platform also launched the new Sewer Pass, an NFT collection allowing players to participate in its newly launched Dookey Dash metaverse game.
More NFT Users Believe In The Future Of Metaverse
Furthermore, during the research, many crypto users expressed their faith in the future of metaverse technology, with 69% believing that metaverse will reshape the future of their social lifestyle.
At the time, most NFT traders cited metaverse integrations in entertainment and social activities. More than 67% of worldwide investors anticipated that traditional game publishers would be highly interested in metaverse gaming in the future.
The new survey found America the most innovative continent, adopting the metaverse technology for daily life. China and India followed closely, with more than 70% of users harboring strong feelings towards using the metaverse in daily life.
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