NFTs are growing in popularity in New Zealand, with nearly 1 in 5 “actively exploring” crypto as an investment opportunity. The results are part of a survey from the Financial Services Council, which queried 2,000 people in April 2021. The number is a marked increase from March 2020’s “actively exploring” rate of 3%.
Crypto and NFTs still have a long way to go before they’re seen as mainstream options. But the growth shows the public in New Zealand is becoming more comfortable with the idea of digital assets. Also, over 30% use or plan to use digital currency platforms.
NFTs and the age gap in New Zealand
There is an age gap in the adoption of NFTs. But instead of younger people being a driving force in this area, it turns out older New Zealanders are behind it. People aged 40 to 49 were 15% likely to own crypto, compared to 13.5% for those aged 18 to 29. NFTs specifically, those numbers are 3% and 2% respectively.
The reason, theorizes the Financial Services Council, is that the covid pandemic has made younger generations more cautious. Older investors, with more stability behind them and more money to spend, are willing to take risks that may pay off in the future.
The evolution of investing
The fact that NFTs registered at all in a report of this kind is significant all on its own. A few years ago, NFTs were such a niche category that they didn’t even warrant a mention at all. To have reached numbers like these so quickly is an excellent sign that the market is alive and well — especially in New Zealand.
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