BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Media

About 50% of Americans Have Heard About NFTs, But Only 2% Have Ever Bought One – Study

BlockNews Team by BlockNews Team
September 23, 2022
in Media, NFT, Social
Reading Time: 4 mins read
A A
NFT-Survey
1
SHARES
12
VIEWS
Share on TwitterShare on Reddit

If you have been keeping up with crypto and blockchain news, you probably know what non-fungible tokens are (NFTs). In line with this, a recent survey by the Pew Research Center has revealed that about half of U.S. adults have heard of NFTs, but only a mere 2% have bought one. 

You might also like

Crypto Twitter Thinks the Fed’s $297B Balance Sheet Expansion Is ‘QE’, but It’s Not

Ripple-SEC Case: XRP Price Turns Bullish As Coinbase Hints At Relisting

Solana’s Top DEX Orca Restricts Access For American Users

NFTs are unique cryptographic tokens that exist on a blockchain and cannot be replicated. They rely on blockchain and crypto technology to turn digital art, such as images or items in video games, into something that cannot be exchanged for another. 

While the NFT market has been down for most of the time in 2022, it still processes about $24.87 in weekly trade volume, according to data from the Block. 

46% of U.S. Adults Have Heard Of NFTs

NFTs had their day in the sun during the 2021 bull market, with top crypto collections such as CryptoPunks sold for tens of millions of dollars. This class of digital assets has caught the attention of top celebrities, including musical artists, journalists, actors, and athletes who have helped in their marketing. As a result of such promotional efforts, about 49% of U.S. adults “have heard at least a little about non-fungible tokens,” according to a survey by Pew Research Center. This includes 11% of those surveyed who said they had heard much about NFTs.

The study also found that only 2% of U.S. adults have bought this digital art class. 

“About half of U.S. adults (49%) say they have heard at least a little about non-fungible tokens, including 11% who have heard a lot. But just 2% of Americans say they have bought an NFT.”

The Pew data also revealed evident splits along demographic groups defined by gender, age, ethnic background, and income levels. According to the research, men (22%) were likelier to have heard of NFTs than women (10%). Against this, more men (3%) said that they had bought an NFT compared to women at 1%. 

In addition, 69% of young adults aged between 18 and 29 years said they had heard at least a little about NFTs, compared with those in the older age brackets, with 56% of those aged 30 to 49 years and only 36% of those aged 50 years and above.

Looking at age and gender together, the report revealed significant differences. For instance, men in the 18-29 age bracket were more likely to have heard little about NFTs at 79% compared to women in the same age group at 58%. Interestingly, both men and women under 30 were equally likely to say that they had purchased an NFT. This figure was 5% for men and 7% for women between 18 and 29. 

NFT Awareness Varies With Race, Ethnicity, and Income Levels

Pew Research Center analysts also noted that “the share of adults who have heard about NFTs also varies by race, ethnicity, and income.” 

According to the survey findings, Asian Americans were the most likely to say that they have heard at least a little about digital art assets (66%) among the studied ethnic and racial groups. This percentage was 49% and 48% for White and Hispanic adults, respectively, and 38% for Black Americans. Notable was the high percentage of Hispanic and Black adults who said they had bought an NFT (5% and 4%, respectively).

In addition, wealthy adults were twice as likely as low-income people to know about NFTs (66% vs. 36%). However, low-income respondents were more likely to have bought at NFT at 3% compared to the other income classes, which were both at 2%. 

The research also revealed that the fraction of U.S. adults that had invested, used, or traded in cryptocurrencies had remained the same since September 2021. This lack of change is experienced despite the increased attention that cryptos have received this year, even from mainstream media platforms and government institutions.

The United States is a cryptocurrency hub with leading crypto trading platforms, including Binance US, Coinbase, and FTX US operating within its jurisdiction. These exchanges serve millions of U.S. adult crypto investors.

Tags: BlockchainNFTNFTsWeb3
TweetShareShare

Recommended For You

Crypto Twitter Thinks the Fed’s $297B Balance Sheet Expansion Is ‘QE’, but It’s Not

by BlockNews Team
March 22, 2023
0
crypto twitter

The most recent rise in the central bank's balance sheet, according to some analysts, is not as obviously stimulative as the one that came after COVID-19. The US...

Read more

Ripple-SEC Case: XRP Price Turns Bullish As Coinbase Hints At Relisting

by BlockNews Team
March 22, 2023
0
xrp

Coinbase could relist the XRP token if Ripple wins the ongoing lawsuit against the SEC. The exchange will initiate the relisting process immediately after the court pronounces itself...

Read more

Solana’s Top DEX Orca Restricts Access For American Users

by BlockNews Team
March 22, 2023
0
orca.so

US-based users will be banned from trading on Orca’s web interface beginning March 31st. Orca said the ban exempts those who trade directly using smart contracts and their...

Read more

DefiLlama Forks into a New Platform as Internal Disputes Unfolds

by BlockNews Team
March 22, 2023
0
DefiLlama

Blockchain data platform DefiLlama is in turmoil following its employee's rejection of its Token Launch Plan.  Now, the creators of one of DeFi's prominent dashboards have made a...

Read more

Massive USDT Transfer – Is This The Reason Behind The Current Crypto Market Shift?

by BlockNews Team
March 21, 2023
0
USDT

The crypto market has witnessed a dramatic couple of weeks, leading to uncertainties about what the future holds for the digital asset sector. Crypto debunking in the United...

Read more
Next Post
Eurocoinpay x Mastercard Logos

Eurocoinpay Partners With Mastercard to Launch One of the First Cryptocurrency-Based Cards in Spain

Related News

daniel leon celsius

Bankrupt Crypto-lender Celsius Co-Founder, Daniel Leon, Resigns

October 6, 2022
Can Solana Bounce Back from a 70% Drop?

Can Solana Bounce Back from a 70% Drop?

June 9, 2022
Metaplex-Logo

Following the Demise of FTX, Metaplex has Announced Layoffs

November 21, 2022

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Crypto Twitter Thinks the Fed’s $297B Balance Sheet Expansion Is ‘QE’, but It’s Not March 22, 2023
  • Ripple-SEC Case: XRP Price Turns Bullish As Coinbase Hints At Relisting March 22, 2023
  • Solana’s Top DEX Orca Restricts Access For American Users March 22, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?