A latest CoinGecko survey reveals that 54.1% of crypto buyers don’t count on non-fungible tokens (NFTs) to return within the present market cycle. Solely 19.4% of respondents expressed optimism about an NFT resurgence within the close to time period.
The survey, which gathered responses from 2,558 crypto contributors, discovered that 29.5% strongly disagreed with the potential for an NFT comeback, whereas 24.7% had been much less bearish however nonetheless skeptical. A impartial stance was taken by 26.4% of contributors.
Sentiment in the direction of NFTs remained constant throughout totally different crypto expertise ranges, with newcomers and veterans sharing related views. Nonetheless, builders and spectators confirmed extra optimism in comparison with buyers and merchants.
As reported by Crypto Briefing, NFTs are nonetheless seen as highly effective engagement instruments by builders, regardless of the present lack of speculative momentum. Caitlyn Burns, Senior Director of Story at Sweet Digital, acknowledged that engagement by way of NFTs differentiates itself from all the pieces seen in Web2.
“And that is one thing that transcends market situations as a result of the utility, the expertise of being part of these bigger comics packages is greater than any specific month in any specific second in a speculative group,” she added.
Gaming and metaverse objects emerged as the preferred NFT use case, with 17.2% of contributors contemplating it probably the most promising. Memes (9.5%), profile photos (8.3%), and artwork (7.6%) adopted as different favored purposes.
Notably, 36.9% of respondents recognized as NFT bears or expressed apathy in the direction of the expertise. The survey was carried out from June 25 to July 8, 2024, with contributors primarily from Europe, Asia, North America, and Africa.
