With the rising popularity of nonfungible tokens (NFTs), numerous have seized to “flipping” these properties as a marketing strategy. Around 64% of species in a current analysis announced their top goal for purchasing an NFT was “to earn money.”
Blockchain monitoring software corporation DEXterlab interviewed more than 1,300 population on Twitter about their NFT purchasing patterns from late May to early June. Despite many ones peeking to earn from NFT marketing, less than 42% have earned a profit so far, based on the findings.
The second most stated reason for purchasing an NFT saw around 15% of answers that it was to be a factor of a population and “to flex.” “People are highly sociable creatures, so the intention to be a piece of a community and show off isn’t shocking,” DEXterlab wrote.
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The team accentuated the achievement of the Bored Ape Yacht Club (BAYC), which has idols among its grades along with limited bonuses like entry to holder-only incidents or new prominent NFT drops. Though some NFT exhibitions, such as those of the BAYC, can often discern bottom rates in the tens or hundreds of thousands, nearly half of respondents announced they were only pleased with spending a reasonable payment of between $50 to $500 for an NFT.
Though some NFT collections, such as those of the BAYC, can often see floor prices in the tens or hundreds of thousands, almost half of respondents said they were only comfortable paying a modest price of between $50 to $500 for an NFT.
Surprisingly, the second most popular answer had a quarter of respondents saying they are ready to spend in the upper limits of the poll, more than $2,000 per NFT.
Over the past 30 days, some of the largest “blue chip” NFT collections such as CryptoPunks, Mutant Ape Yacht Club (MAYC), BAYC and Moonbirds have seen their floor prices or market caps halve. Despite this, these collections have continued to top the charts for the top NFT sales over the same period. Though NFT prices have fallen across the board, there are still examples of NFTs that have defied the prevailing bear market.
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