Recently, sports players, artists, musicians, and other celebrities have dipped their toes into the Non-Fungible Tokens (NFTs) trend. Celebrities like Lindsay Lohan, Snoop Dogg, Ja Rule, Tony Hawk, Jack Dorsey, Shawn Mendes, Paris Hilton, Logan Paul, and many more have begun selling their work as NFT collectibles.
Celebrities Selling NFTs
NFTs are basically blockchain-based assets that are confirmed unique thanks to identifying data recorded in smart contracts. They have gained a lot of popularity over the past year. From music albums to artwork and everything in between, athletes, musicians, artists, and others are all selling their unique NFT artworks to those with the funds and willingness to have them.
- Tony Hawk is the most heard celebrity launching NFT nowadays.
- 68% think NFT Artworks will kick off more than sports, music, games, etc.
- Over 37% think stars spend millions on NFT because it sells even during the pandemic.
From a total of 200,000 online survey application respondents, 71.05% of them already heard NFTs while only 28.95% haven’t heard of it. Moreover, 51.37% of the survey participants are aware of celebrities launching NFTs, with a close difference of those who are not aware (48.63%) that celebrities are now adopting NFTs.
Meanwhile, the list of most heard billionaires, celebrities, and influencers joining NFTs include Tony Hawk (29.12%), Snoop Dogg (27.03%), Lindsay Lohan (10.10%), Ja Rule (3.79%), Grimes (2.39%), Shawn Mendes (1.58%), Kings of Leon (1.14%), Paris Hilton (0.93%), Jack Dorsey (0.94%), Logan Paul (0.78%), and others (5.93%). Still, 16.27% of the respondents stated that they have not heard of any celebrities selling NFTs.
In addition to that, when participants were asked which of the following they think NFTs will kick off more, 23.68% said it would be art. Next, we have Sports (22.55%) with a close difference to the first-mentioned. 18.57% agree that it would kick off more on the business industry. There are also other sectors that respondents think will kick off more such as games (11.08%), music (4.78%), finance and investment (4.71%), media (2.95%), and others (11.67%).
In this survey, a majority (46.56%) agree that celebrities are indeed bringing NFTs to the mainstream. The public interest has surely grown since famous people are joining NFTs. While 21.17% disagree on this matter, the other 32.27% do not know if celebrities actually hype the NFTs nowadays.
When asked what respondents think is driving celebrities to spend millions of dollars in creating NFTs, 37.19% think it’s because it sells even during the pandemic. 33.49% think that it is because these stars gain profits from the rise of crypto adoption. Meanwhile, 9.49% said it’s just because others are following the celebrity NFT bandwagon. 4.38% answered that they are trying to create a buzz through crypto and NFTs.
Advantages and Disadvantages of Launching NFTs
Alongside the fact that celebrities adopting NFTs arises, it is just right to know the advantages and disadvantages of NFT.
As part of its advantages, 36.45% believe that NFTs ownership and trading history are stored within the blockchain. 35.59% think that its advantage is it clearly states the ownership of digital assets. 11.15% say it is impossible to forge NFTs, 5.50% say they can tokenize real-world tangible assets with NFTs.
On the other hand, respondents were asked about its disadvantages. One of NFTs downsides is (34.98%) it needs too many resources to be created. Also, (32.08%) NFTs are relatively easy to create meaning, supply can surpass demand. Another one is, (14.90%) when you own NFT of certain contents, it may not always guarantee their legal ownership. Lastly, (7.01%) if hacking techniques improve, NFTs can be stolen in a worst-case scenario.
Respondents were asked if they think non-fungible tokens are a good investment. 46.79% of the respondents think NFTs are indeed a good investment. Meanwhile, 35.54% are unsure if it is a good decision to invest in NFTs. Furthermore, 17.67% think these are not a good investment at all.
NFTs are hot stocks, and celebrities like Grimes, Lindsay Lohan, Jack Dorsey, Shawn Mendes, and Paris Hilton are making millions selling them. The majority of the respondents think that celebrities selling NFTs indeed brought NFTs to the mainstream. Moreover, over 37% of the respondents think celebrities spend millions of dollars in creating NFTs because it sells even during the pandemic. With several advantages and disadvantages, almost half of the survey participants agree that NFTs are a good investment.
|Survey Title||Public Perception on Celebrities Adopting NFTs|
|Duration||April 18th to 24th, 2021|
|Number of Participants||200,000|
|Demographics||Males and females, aged 19 to 60+|
|Participating Countries||Afghanistan, Algeria, American Samoa, Andorra, Angola, Argentina, Armenia, Australia, Azerbaijan,Bahrain, Bangladesh, Belarus, Belgium, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Brazil, Brunei, Bulgaria, Cambodia, Cameroon, Canada, Chile, China, Colombia, Costa Rica, Croatia, Cyprus, Ecuador, Egypt, El Salvador, Estonia, Ethiopia, Finland, France, Georgia, Germany, Ghana, Greece, Guatemala, Haiti, Hong Kong, India, Indonesia, Iraq, Israel, Italy, Ivory Coast, Japan, Jordan, Kenya, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Libya, Luxembourg, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Malta, Mauritania, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar [Burma], Nepal, Netherlands, New Zealand, Nicaragua, Nigeria, North Korea, Oman, Pakistan, Palestine, Panama, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Rwanda, Saudi Arabia, Senegal, Serbia, Seychelles, Singapore, Slovakia, Slovenia, Somalia, South Africa, South Korea, Spain, Sri Lanka, Sweden, Taiwan, Tajikistan, Tanzania, Thailand, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Venezuela, Vietnam, Yemen, Zambia, Zimbabwe.