Why do NFT buyers buy NFTs?

NFTs can be used for many purposes and this is particularly the case for non-fungible so-called collection tokens. We could cite the case of Sorare, which allows players to collect football cards, or Nike, which recently launched its collection of digital sneakers.

But NFTs also have an artistic vocation in some cases and sometimes allow creators to generate great revenue. If you were wondering what motivates buyers of these digital works, a survey conducted by Hiscox, an insurer specializing in the protection of works of art, provides the answer.

The NFT market is becoming more democratic in France

For the purposes of this survey, no less than 595 buyers were interviewed at the start of the year. A very clear observation is immediately obvious: 82% of buyers say that their transaction is above all an investment much more than an interest in art.

Quoted by The echoesthe study drives the point home by stating that ” 95% of buyers who spent $25,000 on NFT cited ROI as the number one reason for their purchase “.

According to Nicolas Kaddeche, technical director of Hiscox France, NFTs ” remain largely a speculative market that should continue to yo-yo for a while “.

Several figures nevertheless make it possible to qualify this somewhat brutal observation. Thus, 24% of buyers say they hope to unearth a work that they appreciate. Similarly, 67% of women surveyed say they are motivated “ by their passion for art “.

Gradually, the NFT market seems to be democratizing in France. Cointribune recently commissioned a survey from Ifop to better understand the opinion of the French on non-fungible tokens. It shows that 3.5% of them have already invested in these digital assets.

However, deep social disparities still exist and the people who are the most fond of NFTs tend to be located in the Paris region with a higher standard of living and a higher diploma than the average.

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