75% of Crypto Holders Own NFTs, Survey Says

Nearly 30% said they got their hands on their first NFT within the last year

article-image

Chaosamran_Studio/Shutterstock modified by Blockworks

share

Over 75% of crypto holders own NFTs, a CoinGecko and Blockchain Research lab survey found. 

This high adoption rate is likely due to the fact that the audience for NFTs is a lot more mainstream than traditional crypto, according to co-founder of Arcade.XYZ Gabe Frank. 

Anthony Georgiades, co-founder of Pastel Network, added that while the 75% figure could be inflated, NFTs are starting to get snapped up by more traditional crypto enthusiasts. And for normal consumers, they are easier to understand than other blockchain-based investment assets.

“NFTs certainly are more accessible and palatable than just general crypto overall. It’s easier to jump into the crypto space and ecosystem and just buy an NFT,” Georgiades said. 

Frank said he feels that once a person buys an NFT, they “get it,” and then it becomes a game.

Georgiades agreed, elaborating that “it’s not just holding bitcoin. It might go up, it might go down and that’s it…They are very unique variables and collectibles. So it does become gamified in some way.”

The survey also suggested that of the people who own NFTs, just over a quarter are “avid collectors” — which according to the study, means they hold over 51 NFTs. FOMO, or fear of missing out, is a huge component behind this number, according to Georgiades.

Frank also pointed out that use cases for NFTs continue to grow. Real estate is one such example, where investors recently bought a single-family home in Texas that was tokenized on Solana. Other uses include gaming, event exclusives, fashion wear for digital avatars, and gated access to a variety of immersive experiences — both online and off.

However, despite the utility of these assets becoming clearer, there remains a solid chunk of crypto industry participants — about 20% — who report never having owned an NFT. Georgiades attributed this to some investors steering clear because initially, the derived value of owning an NFT wasn’t clear. 

“I do think that that percent will change as NFTs become more of a critical point in the overall value chain of DeFi,” he said. “Just because those holders haven’t necessarily bought NFTs, doesn’t mean they won’t in the future.”

The survey included 438 respondents and was conducted from December 2022 to January 2023.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).jpg

Research

With $13B in tokenized assets, strong institutional partnerships, and a clear first-mover advantage in the RWA space. The platform's methodical approach to regulatory compliance, coupled with its hybrid public-private architecture, positions it uniquely to capture significant market share in the emerging tokenization landscape. While current fee generation primarily stems from metadata transactions, the planned launch of Figure Markets, major exchange listings, and comprehensive market-making initiatives in 2025 could serve as powerful catalysts for growth.

article-image

Perena is built on the premise that as stablecoins proliferate, liquidity could fragment, and stablecoins aren’t useful if they aren’t liquid

article-image

From hackathons to trading tools and DAO governance, AI agents are redefining how we build and innovate

article-image

CME’s large bitcoin contracts are so big that investors are turning to micro bitcoin contracts

article-image

The third-largest stablecoin is going multichain for the first time in its seven-year history

article-image

Nano Labs’ news release notes confidence in bitcoin being “a reliable store of value amidst its rising global adoption”

article-image

Several big companies report third quarter earnings this week, likely moving markets