NFT Market: Key Takeaways from CoinGecko’s Survey
According to a recent survey conducted by CoinGecko, 75.8% of respondents claimed to own NFTs, while 21.7% reported not owning them before.
The study was carried out between December 2022 and January 2023 and involved 438 participants. The report also found that 2.5% of the respondents had previously owned NFTs but sold them all.
The study did not explore the reasons behind the investors’ decisions to own or not own NFTs.
The survey also examined the size of the investors’ NFT portfolios.
According to the report, a quarter of the investors who possessed NFTs had more than 50 of them, while the second-largest cohort had between two to five NFTs. The third-largest group comprised investors who held between 11 to 20 NFTs, whereas the smallest group owned just a single NFT.
The report suggested that investors who stopped participating in NFT trading typically held between two to five NFTs.
Another survey conducted by CoinGecko explored investors’ sentiment toward regulatory rules and potential risks associated with NFTs. The report’s findings disclosed that only 48% of the respondents desired increased regulatory scrutiny in the NFT realm.
Only 18.7% of the respondents were confident they wanted more regulatory oversight, while 22.4% of the participants said they did not think the NFT space needed more regulatory oversight.
The majority of the group who agreed that the NFT space needed more regulatory oversight were not strongly opinionated, while the majority of the group who disagreed were firmly against more regulatory oversight in the NFT space.