Only 1 in 5 French people think they know what NFTs are – Image

According to an Ipsos.Digital study carried out from 17 to 19 June 2022, S.Only 1 in 5 French (20%) think they know what NFTs (non-fungible tokens) are, when 56% have never heard of them. Of those familiar with the term, 74% are men. It is a topic more familiar to young people: 45% of 18-24 year olds know what it is, compared to 14% of 35-44 year olds.

The main motivations for purchasing NFTs are purchasing tamper-proof digital assets or artwork (16%) and understanding how they work (13%). This is followed by the personalization of an avatar or the consumption of luxuries in the metaverse (7%), the desire to be among the first to test NFT (5%), to create one’s own NFT (5%) or good because its purchase represents a donation to an association (5%).

The lack of knowledge of NFTs is one of the main obstacles to their purchase for the French: almost a third of them (28%) say they do not understand what it entails and 17% find it too complicated. The French believe that NFTs are reserved for a certain segment of the population such as initiates (14%) or gamers (9%). NFTs inspire distrust: more than 1 in 5 French (22%) think they are highly speculative and are not a reliable value, 15% blame the unreliability of sales platforms or fear theft or scams (9%).

Methodology: Ipsos. Digital study with a representative sample of the French population aged between 18 and 75, or 1000 interviews, carried out on the Internet from 17 to 19 June 2022.

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