{"id":10375,"date":"2022-04-28T22:16:50","date_gmt":"2022-04-28T22:16:50","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/heres-how-nft-owners-trade-and-what-tools-they-use\/"},"modified":"2022-04-28T22:16:52","modified_gmt":"2022-04-28T22:16:52","slug":"heres-how-nft-owners-trade-and-what-tools-they-use","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/heres-how-nft-owners-trade-and-what-tools-they-use\/","title":{"rendered":"Here&#8217;s How NFT Owners Trade and What Tools They Use"},"content":{"rendered":"<div>\n<figure class=\"image\"><figcaption>Source: Adobe\/Ascannio<\/figcaption><\/figure>\n<p>\u00a0<\/p>\n<p>Close to half of the surveyed non-fungible token (NFT) owners actively trade NFTs to earn profits, while the other half of holders mainly bought their NFTs either \u201cto collect\u201d or \u201cfor their utility,\u201d according to a survey conducted by coin tracking site <strong>CoinGecko <\/strong>on Twitter.<\/p>\n<p>The so-called NFT flippers, who \u2013 like traders \u2013 aim to buy low and sell high, were the biggest category of NFT buyers in CoinGecko\u2019s survey, with 42% of respondents saying flipping was their main reason for buying.<\/p>\n<p>The flippers were followed by NFT collectors, who made up 26% of the respondents.\u00a0<\/p>\n<p>Furthermore, those who said they bought NFTs for their utility, for example for use in a game, made up 25%.<\/p>\n<p>Worth noting, however, is that fewer than half of the respondents said they have made a profit from their NFT trading, while 23% said they are \u2018HODLers\u2019 \u2013 or collectors \u2013 with no aim of turning a quick profit.<\/p>\n<p>70% of respondents said NFTs are only a minor part of an overall crypto investment portfolio, making up between 0% and 25% of their portfolios.<\/p>\n<figure class=\"image\"><img decoding=\"async\" alt=\"\"  width=\"1930\" class=\"content-img lazyload\" src=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2022\/04\/screenshot-2022-04-28-at-13-53-21.jpg\" ><figcaption>Source: CoinGecko<\/figcaption><\/figure>\n<p>Meanwhile, the survey also found that most NFT owners used the <strong>OpenSea<\/strong> marketplace to acquire their piece of crypto art. With close to 59% saying they used this platform, this result is notable given that competing platforms such as <strong>LooksRare<\/strong>, and even exchange-owned marketplaces such as <strong>Binance NFT<\/strong> and <strong>Coinbase NFT<\/strong>, have sprung up.<\/p>\n<p>The survey further found that most NFT users still rely on the Ethereum (ETH) network for their trades, with 46% choosing it as the network they used. Ethereum was followed by Polygon (MATIC) and Solana (SOL) as the second and third most popular blockchain networks for NFT trading.<\/p>\n<p>Lastly, CoinGecko\u2019s survey report said that the most common way to look for new NFT projects is through either the social network <strong>Twitter<\/strong> or the messaging platform <strong>Discord<\/strong>.<\/p>\n<p>The report described these tools as being \u201cfragmented\u201d and having relevant information \u201cscattered among other noises,\u201d but still said they appear to be \u201cthe best option to stumble across fresh-out-of-the-oven projects.\u201d<\/p>\n<p>For more specific tools, such as the aggregator platform <strong>Rarity Tools<\/strong>, the survey found usage to be low, with only 1.4% of respondents saying they used it.<\/p>\n<p>After buying an NFT, the most common way to track the market value of the art piece is through tools available on the marketplace itself, rather than through custom-made spreadsheets or other tailored approaches, the report said.<\/p>\n<p>CoinGecko\u2019s survey answers were collected through a Twitter poll, and the number of participants varied between 394 and 874. The majority of respondents were from the Asia-Pacific region, which CoinGecko said leads in NFT adoption globally.<\/p>\n<p>____<\/p>\n<p><strong>\u00a0<\/strong><br \/>&#8211; NFTs in 2022: From Word of the Year to Mainstream Adoption &amp; New Use Cases<br \/>&#8211; 72% of Surveyed Game Developers Interested in Using NFTs and Blockchain<\/p>\n<p>&#8211; How to Hedge Your NFT Collection With Ethereum Derivatives<br \/>&#8211; Can You Truly Own Anything in the Metaverse? Blockchains and NFTs Don\u2019t Protect Virtual Property<\/p>\n<p>&#8211; How NFT Finance Accelerates NFT Mass Adoption<br \/>&#8211; NFT Self Defense: Staying Safe in Web3<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Source: Adobe\/Ascannio \u00a0 Close to half of the surveyed non-fungible token (NFT) owners actively trade NFTs to earn profits, while the other half of holders mainly bought their NFTs either \u201cto collect\u201d or \u201cfor their utility,\u201d according to a survey conducted by coin tracking site CoinGecko on Twitter. The so-called NFT flippers, who \u2013 like [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-10375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Here&#039;s How NFT Owners Trade and What Tools They Use | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/nft\/heres-how-nft-owners-trade-and-what-tools-they-use\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Here&#039;s How NFT Owners Trade and What Tools They Use | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Source: Adobe\/Ascannio \u00a0 Close to half of the surveyed non-fungible token (NFT) owners actively trade NFTs to earn profits, while the other half of holders mainly bought their NFTs either \u201cto collect\u201d or \u201cfor their utility,\u201d according to a survey conducted by coin tracking site CoinGecko on Twitter. 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