Probably, if you’re reading this, you already know what an NFT is. A recent Pew Research Center survey, on the other hand, found that only about half of US citizens had ever heard of NFTs. Only 2% are brave enough to buy one.
NFTs are digital assets that use blockchain and crypto technology to turn digitally native things like photos, artwork, and video game items into something that can be sold, usually to the highest bidder. Even though the NFT market has dropped a lot in the past few months, it still does about $50 million worth of transactions every week.
Pew’s findings show clear differences between groups of people. Men are more likely to have heard of NFTs than women, and younger people are more likely to have heard of NFTs than older people. The poll has a margin of error of 2 percentage points.
Also, people with more money were almost twice as likely to know about NFTs as people with less money. Asian respondents knew more about NFTs than white, black, and hispanic respondents.
About 16% of adults in the U.S. say they have bought cryptocurrencies, and 46% of those who have said their investment didn’t do as well as they had hoped.
Even though the cryptocurrency market is still bad, or in a “crypto winter,” venture capital firms put a huge $9.3 billion into crypto-related businesses in the first half of 2022.
In the meantime, well-known venture capitalists and other supporters of blockchain technology have been spreading the word about web3, a decentralized internet that uses blockchain technology. NFTs are a very important part of this idea.
But a new online technological order would need to be accepted and understood by most people. It seems like crypto doesn’t have either. Since non-fungible tokens are one of the best and most well-known uses of blockchain technology, a web3 future, if it’s even possible to imagine, seems very far away.
Leave this field empty if you're human:
