We asked our Readers - Whats next for Non-fungible tokens?

We asked our Readers - Whats next for Non-fungible tokens?

By CoinGecko | CoinGecko Musings | 3 Jun 2020


Hello Publish0x!

In case you missed it, we're starting to include surveys into CoinGecko's Daily Newsletter!

We thought to share our findings here with the public in the hope it may interest some of you out there.

Recently there has been a resurgence of blockchain games, specifically games incorporating Non-fungible tokens. In case you want a quick introduction to what are Non-fungible tokens (NFT), here's one we've written some time ago.

We thought to ask our readers what are their thoughts on NFT and share their personal opinions on it, specifically, we asked:

1. How much do our readers agree to the statement of "NFTs are the next big thing?" on a scale of 1 to 10.

2. What are our readers' favourite NFT Project so far (if they have one)?

3. What they think comes next after NFT?

Here's what we found:

 

1. Sentiments are fairly mixed on whether NFTs will be the next big thing.

Of all the respondents, only 25% gave a full 10 on the scale. 8 and 9 made up another quarter, with 5 to 7 also roughly making up close to 25%. With the remaining quarter answering below 5. We think its understandable as the NFT space can be considered rather nascent. 

chart nft survey

 

2. Not many of our readers have favourite NFT projects.

Only about 10% of the respondents answered here. Now, either that means they are not willing to share which project they support, or (more likely) they are impartial to the NFT space. We can understand why that is so as the NFT space can be rather esoteric. There are many different NFT projects out there each with their own unique qualities that it's hard to have a definitely favourite.

Incidentally, a few of our readers mentioned they love the Garbage Pail Kids NFT on WAX.

As for CoinGecko? Would it be cheesy to say "we like them all'?

 

3. Not every one of our readers allegedly own an NFT

Just about more than half of the respondents say they own an NFT. Of course, we won't ask them what NFT they own. But if you want to show case your NFT stash in the comments, go ahead, we won't stop you.

75ffbdfe679d6d8a82a89db685ebbd5a2c8d1fc098ca3a3754bc9d6c3719550a.png

That aside, do you know that you can easily own an NFT just by registering your own ".eth" address? For example, if you send a donation to "coingecko.eth", it automatically routes to CoinGecko's donation address. That is one fun way to own an NFT if you want to experiment this new token standard! Don't worry, we also have a guide just for that!

 

4. What comes next? Hard to say.

Here are some of the answers our respondent provided:

"Using NFT for Digital Rights Management (DRM) instead of relying on central services like Steam or Epic for gaming" - Notorion

 

"Integrating various NFTs into a wide range of games / VR worlds" - @Steph_Bisson

 

"Tokenizing just about everything including 'Proof of Attendance' to concerts and marathon/triathlon finishes." - @glennbit

 

"More utility will come to NFTs - we will see less that are purely "collectibles" and more that can be used in game(s), DeFi, etc." - @SpencerVogel3


What do you think about these findings? Do you want to take part in future surveys as well? Feel free to join the CoinGecko Newsletter where we put out periodic surveys. We might even feature your answers too!

Have a nice day!


CoinGecko
CoinGecko

CoinGecko provides a fundamental analysis of the crypto market. In addition to tracking price, volume and market capitalization, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics.


CoinGecko Musings
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