NFT flipping not so profitable for more than half of buyers: Survey

NFT flipping not so profitable for more than half of buyers: Survey


With the surging popularity of non-fungible tokens (NFTs) many have taken to “flipping” these assets as a trading strategy. Around 64% of people in a recent survey said their top reason for buying a NFT was “to make money”.

Blockchain monitoring software company DEXterlab polled more than 1,300 people on Twitter about their NFT buying habits in late May to early June. Despite a majority looking to gain from NFT trading less than 42% have made a profit so far according to the results.

Why do you buy NFTs?

— DEXterLab (@Dexterlabdata) May 27, 2022

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The second most cited reason for buying a NFT saw around 15% respond that it was to be part of a community and “to flex”.

“People are highly social creatures, so the desire to

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