Crypto community sees advantage in owning NFTs; 52% want to buy via credit cards Crypto community sees advantage in owning NFTs; 52% want to buy via credit cards
Of the respondents in a recent report, 92% see advantage in owning an NFT, while 52% say they want to buy NFTs using credit cards.
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Updated: Feb. 16, 2023 at 4:35 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The vast majority of respondents in DappRadar and Alsomine’s recent joint 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.
Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
