Zoi Walker | July 11, 2022

What Americans think of NFTs in 2022 [Survey]

Contents

Do you know what an NFT is? The team at getcenturylink.com asked 1,000 Americans this question on Pollfish, and only 64.5% could confidently answer yes.

If you would have said no yourself, here’s a quick primer: NFT stands for “non-fungible token,” and it refers to property that has value only online—e.g., digital artwork such as the famous Bored Ape jpegs, or virtual real estate in the coming metaverse.

Although jpegs have existed for free since the internet has been around, blockchain technology lets content creators more easily stamp ownership on their creations and sell them to users all over the worldwide web via cryptocurrency (e.g., Ethereum, Bitcoin).

If you’re still puzzled by the NFT craze, you’re not alone—but our survey of early adopters may help you understand a little better. Check out our survey results to see how Americans today interact with the NFT marketplace.

NFT purchasing habits in the United States

NFT purchasing habits by generation

What percent of each generation has bought at least one NFT?

What is each generation’s primary reason for buying NFTs?

What percent of each generation believes NFTs are a legitimate form of art?

Interesting Findings

When it comes to shelling out cash for NFTs, most respondents (33%) would be willing to spend just $500 or less per NFT, while 21% would spend between $500 and $1,500 per NFT.
- Gen Z is the most likely generation to spend $100,000 or more on a single NFT, with 14% of that age group willing to consider such a high price tag.
The largest share of respondents (41%) plan to purchase 2–5 NFTs, while the smallest share (14%) plan to purchase 11 or more.
- Millennials and Boomers are the most likely generations to purchase 11 or more NFTs.
Across every age group, most respondents (53%) would consider using their savings or going into debt to purchase an NFT. That said, a sizable minority (47%) hope to use only disposable income.
Social status was one of the biggest reasons respondents gave for investing in NFTs (32%), second only to making a profit (36%).
- To the 32% investing in their social status, owning an NFT in cyberspace feels comparable to “owning an expensive home or designer clothes in real life.”
- The rest of respondents buy NFTs to either support artists or keep up with celebrities.
A combined 81% of respondents believe their NFT was a good investment because it has allowed them to flex their wealth (55%) or because they’ve made a profit by selling one (26%).
- Of those who weren’t happy they invested in an NFT, most say they weren’t able to get a significant profit from reselling.

Methodology

First, we surveyed 1,000 Americans on Pollfish to gauge awareness of the term “NFT.” Of the 645 respondents that could comfortably explain NFTs, we asked additional questions about their beliefs, motivations, and behaviors around purchasing NFTs. Finally, we reported trends among the 645 respondents (a) as a whole and (b) divided along age demographics.

About

GetCenturyLink.com is one of the largest online authorized sales agents of CenturyLink home services.

For media inquiries, please contact media@getcenturylink.com.