Study: NFT is unprofitable for more than 50% of investors
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Answer Study: NFT is unprofitable for more than 50% of investors
Many investors are entering the NFT tokens arena in hopes of turning a profit, according to a new study.
In this the study More than half of the respondents stated that they have not made a profit since adopting the strategy of speculating in NFT digital holdings.
NFT is unprofitable for more than 50% of investors:
DEXterlab, a blockchain data monitoring company, created a Twitter survey to measure NFT growth since the beginning of the year.
The company asked respondents about the reasons for buying NFT as 64.3% said they bought it for the purpose of making a profit and making money.
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Other participants stated that the reasons for purchasing NFTs were for social purposes while others bought NFT digital tokens because they are digital art collectors.
Only 8.6% said they purchased NFT to access games and gadgets exclusively.
As indicated by “DEXterlab”:
People are very social creatures, so the desire to be a part of society and to show off is not really surprising.
NFT holdings such as the Bored Ape Yacht Club and CryptoPunks have attracted followers and are considered a status symbol with celebrities jumping in the trend.
The survey questioned participants about how their journey in NFT was going, and whether or not they had made a profit.
Only 42% say they have made money from NFT while 58% say they have not yet made money from NFT trading and speculation.
Tell an interviewee:
Speculating with non-fungible tokens is a waste of time and money.
The reason for the depreciation of the NFT was blamed on macroeconomic factors that affected the volume of transactions of famous groups.
Read:More than 400 million dollars liquidated after the price of Bitcoin rose to the level of 47 thousand dollars
Hacks and security breaches in the NFT markets have dampened investor interest in the NFT space.
Watch for the light at the end of the tunnel:
A DEXterlab study indicated that negative feelings about NFT may be a thing of the past.
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The company cited examples of projects that have braved a bear market to post impressive numbers over the past month.
The report highlights the fact that individuals who hold their digital tokens and do not sell them can be interpreted as evidence of market health.
Despite the gloom, Solana’s NFT posted its most successful month ever with trading volumes of nearly $350 million for 30 days.
CoinGecko agreed with the findings from DEXterlab by saying that the NFT industry is expected to have a turnover of more than $800 billion by 2025.
If the outlook holds, investors will need to amass their digital tokens for a few years to reap their profits.
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2022 could be the worst year for the crypto market so far…Here are the reasons!
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