MetaJuice’s NFT Data Reveals that NFTs are the New Status Symbol

MetaJuice, a blockchain-oriented subsidiary of Together Labs, shares valuable NFT data gathered from a survey of over 6,000 buyers and sellers of NFTs in IMVU, the world’s largest Web3 social metaverse. The data gathered from these users offers a unique look into the purchasing behaviors of NFTs among IMVU’s active community. These include people immersed in the virtual world since 2006! So, what does the data say about digital assets in the information age? Let’s find out!

What Does the IMVU NFT Data Reveal?

In order to gather the NFT data, IMVU sent out a 35-question survey to participants from all genders, ages, and platforms. Participation was entirely voluntary, with no incentive paid. Over 40% of participants are aged 18-24. Moreover, over 60% of participants identify as female, and more than 30% have been on IMVU for two years or more. The release of this data comes at a time of resurgence in the NFT markets. Trading volumes have risen by 42.9%, from $662 million in October 2022 to $946 million in January 2023.

Here’s what they found out:

• Status Symbol: The urge to express oneself is evident, with 74% purchasing NFTs for reasons such as status, originality, or visual appeal, while only 13% bought NFTs with the intention of reselling them. Owning NFTs as a status symbol it seems, is still paramount to the space.
• First Purchases: 87% of NFT owners made their first NFT purchase on IMVU, and 93% of NFT buyers are interested in buying again.
• Future Purchase Decisions: A majority 93% of buyers and 94% of sellers indicate an interest in buying and selling NFTs again in the future, respectively.
• Other Marketplaces: According to IMVU, the other digital marketplaces that crypto enthusiasts use to make their purchases are
  •  Sandbox (15%),
  • Coinbase (13%), and 
  • Blur (13%).
• Positive Sentiment:  70% of buyers and 71% of sellers deemed NFTs either Very Favorable or Somewhat Favorable, respectively.
• Opinions: In general, 40% of users describe NFTs as creative when describing their opinions of NFTs.
• Overall Satisfaction: 68% of buyers and 69% of resellers are satisfied with their involvement in NFTs.
• Discovery: The majority of NFT users acquire knowledge about NFTs from digital platforms. 45% of users gain awareness through social media, and 27% through online news and media websites.

More About the IMVU Survey

The IMVU survey further sees that awareness of NFTs was 18% in April 2021, but skyrocketed to 71% in January 2023. Also, during that period, the overall attitude towards NFTs has changed in a similar fashion.

• In March 2022, only 26% of surveyed users had a response that was either Very Favorable or Somewhat Favorable towards NFTs, while 44% had a Neutral outlook.
• In January 2023, 49% of all users are Very or Somewhat Favorable, and only 24% have a Neutral rating.

In the near future, IMVU Creators will be able to transform their in-game products into NFTs that are minted, with the artists specifying the number of items, descriptions, and prices. These digital items will be listed on the IMVU marketplace once approved.

Furthermore, Together Labs introduces new Limited Edition NFTs each week. These are highly sought-after digital artifacts and sell out quickly. This further results in MetaJuice rising to as high as the #3 position in the DappRadar 7-day Collectibles rankings!

About MetaJuice

MetaJuice aims to unlock the metaverse through blockchain-based economies. This allows everyone to own, earn, create, and shape its future. Their goal is to create a world where users, players, and creators can participate and share in its success.

MetaJuice has already launched the meta token VCOIN, NFT assets, and also plans to release a new global metaverse token outside the US and Canada. As a subsidiary of the world’s largest Web3 social metaverse, Together Labs, MetaJuice positions itself perfectly to achieve its vision.