The main reasons to buy non-fungible tokens (NFT) include the ability to use them for their “intended function” and the desire to make a long-term profit.
According to a survey conducted by CoinGecko and Blockchain Research Lab, users buy NFTs because of several main reasons, the primary ones being their utility and long-term prospects.
The survey was conducted among 343 crypto users and NFT owners. The analysts identified the following motives for buying non-fungible tokens:
- To use NFTs for their “intended function” (77.6%). Three out of four holders evaluate the utility and benefits of the NFT collection before buying.
- Long-term profit (76.1%). By buying NFTs, users assume they’ll be able to sell them at a higher price over time.
- Gain a stake in the venture (72.9%). Being able to make decisions in DAOs and get a stake in venture capital investments encourages buying NFTs.
- Enthusiasm for NFT technologies (71.1%). Users appreciate the underlying technologies behind non-fungible tokens, believing they’re the future.
- The desire to be part of the community (68.8%). The opportunity to enhance their social status and gain access to exclusive resources is highly rated by six out of ten NFT users.
- Profit in the short term (66.8%). Users buy NFTs for the opportunity to resell them immediately at a higher price.
- Savings (63.0%). Users view NFTs as a tool to preserve their investments.
- Social good (60.6%). Users buy NFTs as altruistic gestures or want to participate in charity.
- Disrupting established structures (59.5%). NFTs can be accessed not only by a highly privileged circle of people but by anyone. This motivates more than half of the users to buy non-fungible tokens.
Earlier, a similar survey showed that the main motivation to buy NFTs was the desire to “be unique and stand out.”
