Most Americans are "not at all familiar" with NFTs and cryptocurrency
Cryptocurrencies and non-fungible tokens (NFTs) have become major buzzwords among asset managers and market participants but new surveys from data firm CivicScience show that most Americans are not at all familiar with them.
Where it stands: Cryptocurrencies have become more popular as companies like PayPal and Tesla have announced they will accept bitcoin for payments and companies like MassMutual have moved sizable chunks of reserves into the cryptocurrency.
One level deeper: CivicScience's latest survey finds that 88% of the general population is "not interested" in NFTs.
- Those who are interested unsurprisingly are younger and wealthier, however, those earning less than $25,000 a year also have a substantial interest (5%, the highest of all income segments, matching the 5% of individuals making $150,000 or more) in buying some digital assets.
The bottom line: Bitcoin has surged in value and popularity even though a majority of the country has no familiarity with it.
- With less than a quarter of respondents saying they are even somewhat familiar with NFTs, that market also has quite a bit of room for growth.