80% of Survey Participants Say They Buy NFT for Status
Metajuice, a metaverse platform, reports that nearly 85% of NFT collectors on its platform acquire NFTs for their status, exclusivity, and aesthetic value. Despite the current NFT sales not reaching the peak levels seen in 2021, the market continues to thrive as buyers have diverse reasons for investing in NFTs.
Metajuice has revealed that it conducted a survey of more than 6,000 NFT users to uncover the factors driving NFT purchases. According to an announcement, the results of the survey showed that the top two reasons for buying NFTs were to stand out and use them as avatars. Furthermore, 74% of respondents indicated that they were attracted to NFTs for the status they confer, while 13% reported buying NFTs with the intention of selling them later.
“I appreciate the rarity of owning items that are less likely to be owned by others. Being distinctive and standing out is important to me. Owning an NFT gives me a sense of solidarity when I encounter someone else who owns it.”
Metajuice’s president, John Burris, stated that owning NFTs for exhibiting digital assets adds value by creating a “collective sense of status-driven trends” in the metaverse. According to Burris, individuals desire to possess the ownership rights to items that enhance their perceived status and how they are viewed in the metaverse, with NFTs playing a crucial role in this regard.
Raoul Pal, the CEO and co-founder of Real Vision, has recently shared his opinion that NFTs will exhibit a performance similar to high-end properties during market boom cycles. In a YouTube video on February 21, Pal stated that owning significant collections such as CryptoPunks and Bored Ape Yacht Club has already become a status symbol in the cryptocurrency sphere. The executive drew a parallel between this trend and owning luxury cars and houses.
It is a high time for NFT marketplace like Stylike to reach a broader audience and make its way among the best NFT marketplaces globally.