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NFT buyers are older than you think


Note: Do NOT rely on this data.

Following requests by Ledger Insights to clarify some data, Piplsay informed us that an inaccuracy was found, so the results have been taken down. Rather than removing this article, which would leave a false impression, we’re including this update to show this data cannot be relied upon.

Today research company Piplsay published a survey about non-fungible tokens (NFTs) based on an online survey this month of more than 30,870 people in the US and 9,170 in the UK. The results show a slightly older demographic than one might expect, with more millennial buyers than the younger Generation Z, although the survey was restricted to 18 and over.

Survey results claim that 41% of millennials in the US and 45% in the UK have bought an NFT, which is surprisingly high, particularly as this runs to people up to aged 40. The figure across all age groups is 18% in the US have made a purchase and just 5% in the UK, perhaps implying a bias towards older people participating in the survey, especially in the UK. 

In terms of categories of NFTs, there’s a reasonably even spread with branded NFTs proving the most popular in the United States, compared to sports-related collectibles in the UK.

As we reported yesterday, avatar-related NFTs like CryptoPunks and Bored Ape Yacht Club are the categories currently dominating six out of ten of the top spots, and it’s unclear whether these would be considered memes or art. 

Despite NFTs hitting the headlines in the mainstream press, half of the people in the US either are not aware of NFTs or have no opinion about them, rising to 68% in the UK. Americans have a more positive attitude towards NFTs, with 32% believing NFTs are revolutionary compared to 18% who think they’re an absurd concept. UK respondents who don’t like the idea (17%) outstripped those that think NFTs are revolutionary (15%).

The negative UK views were reflected in the largest proportion of people saying NFTs are just a passing fad (39%) compared to the largest proportion of US respondents (44%) saying NFTs are here to stay. However, based on our previous comments, we suspect the UK respondents may be older, impacting this opinion. We’ve asked Piplsay for a breakdown but didn’t receive a response in time for publication.