Crypto community sees advantage in owning NFTs; 52% want to buy via credit cards

The vast majority of respondents in DappRadar’s recent survey report think owning an NFT is advantageous, while slightly over half prioritize being able to pay for NFTs using their credit cards.

In total, 92% of the participants said they saw an advantage in owning an NFT, while 52% ranked “being able to purchase with credit cards” among their top two priorities, according to the survey report.

Advantages of NFTs

Around 65% of the participants said they saw a “big advantage” in owning an NFT, while another 27% replied with “some advantage.”

Regarding the specific advantages of owning an NFT, 31% said they valued NFTs’ ability to earn and save money the most. Asset Ownership and Gaming & Metaverse functions were second and third most valued, with 22%  and 19%, respectively.

Even though NFTs’ ability to provide membership and access privileges was ranked fourth with 18%, it was the most valued function among participants with proficient knowledge of NFTs. Functioning as a ticket or an admittance pass, on the other hand, was the most valuable NFT use case amongst new users.

Purchasing

While examining the customer priorities when buying NFTs, the report shows that 52% of survey respondents valued being able to purchase with their credit cards.

Around 38% of the 52% are experienced users who own a digital wallet or have bought crypto before. In addition, women appeared more inclined toward paying with their credit cards when purchasing NFTs.

NFT market persists

According to the numbers, the on-chain NFT trading volume was sitting at $24.7 billion at the end of 2022, marking a slight decrease from 2021’s $25.1 billion. The size of this drop reflects the resilience of the NFT market against the coldest winter in crypto history.

Moreover, the number of unique trades recorded a 19.75% increase in 2022, reaching 6.9 million at the end of the year. NFT sales also increased by 67% to see 107 million.

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