Pudgy Media

Maybe you’re trying to create your own NFT collection and want to get a better sense of the demographics of your likely buyers. Or, maybe you’re a buyer yourself considering making your first purchase, but you still have questions. Either way, our guide on who buys NFTs is here to help.

We’ve compiled insights on which parts of the country buy the most NFTs and the individuals purchasing them - age, gender, income, and more. We’ll also talk about different types of buyers, from art collectors to institutional organizations, all of which are reaping the NFT benefits.

But here’s the short answer - anyone who wants to collect something unique and support creation can, and should, buy NFTs!

If you’re looking to take that first step, look no further than Pudgy Penguins. As one of the best NFT projects the world has ever seen, we're spreading our message of positivity, good vibes, and playfulness. You can start your search in our marketplace today.

How Many People are Buying NFTs in 2024?

One of the most common questions we see circulating the space is - are people still buying NFTs? Absolutely!

We recently wrote about how NFTs will change the world. In that guide, we mentioned that despite the fact that the NFT market boomed back in 2021, the real impact of tokenization and digital ownership is still to come.

Current trading volumes vary, with weekly sales figures generally ranging between $10 million to $20 million. This level of activity highlights a stable interest from a diverse range of buyers, even if it reflects a normalization from previous highs.

It’s important to remember that NFTs are not necessarily a new phenomenon any longer. Wait, when did NFTs start exactly? More than a decade ago in 2014!

So, the market may be mature at this point, but there’s no question that it’s still alive and well. That being said, who buys NFTs exactly?

Who Buys NFTs Exactly? Overview of NFT Purchase Demographics

There are so many different ways you can answer the question of who is buying NFTs - from regional insights to personal demographics (age, gender, etc.).

You could also drill this down to the specific types of NFT collectors, from art enthusiasts to gamers. We’ll highlight the specific people who are driving the NFT market forward below.

Regional Insights

From the West to East coast and across middle America, and even around the world, everyone is getting in on the fun with NFTs. However, there are a few hotspots we see showing more activity than others.

The United States leads the charge, particularly in states like California and New York, where tech innovation and the arts sector thrives. Other notable regions include parts of Europe, such as the United Kingdom and Germany, and Asia, with South Korea and China at the forefront.

These areas are not only consuming NFTs but are also leading in creation and innovation within the space by minting their own NFTs and releasing exciting new projects.

Age Insights

As you can imagine, the younger generation is buying NFTs at a higher clip given their more tech-savvy nature.

Data indicates that the majority of NFT buyers are between the ages of 18 and 34. This age group is inherently more familiar with digital and crypto assets, often viewing NFTs as a natural extension of the digital experience.

However, there's a growing interest among older demographics as they become more accustomed to digital transactions and the blockchain technology that makes NFTs possible. These are the groups with more disposable income, which is important given the expensive nature of NFTs.

Gender Insights

The NFT landscape was predominantly male-influenced early on - but that is no longer the case. An increasing number of women are not only purchasing NFTs but also creating them. This shift is supported by platforms and initiatives promoting diversity and inclusion within the NFT community.

Income Insights

It’s no secret that NFTs can cost a pretty penny, which is why you may assume only the rich can justify purchasing NFTs. Data shows this to be a false assumption, though.

There are plenty of people having fun in the space making what would be considered a low income of under $25k annually. On the other end of the spectrum, high earners (over $150k annually) are also frequent buyers.

What is surprising, though, is the gap in the middle. Those with $25-150k in annual earnings don’t play as much of a role in the NFT space as the other two segments.

Individual vs Organizational Purchases

You may assume that it’s just individuals purchasing NFTs, but that’s actually not true. Sure, individual collectors make up the bulk of the market, but larger organizations are also staking their claim.

From tech companies to entertainment giants, these entities are leveraging NFTs for marketing, customer engagement, and new revenue streams. They recognize the value of NFTs in building brand loyalty and creating unique customer experiences.

Categorical Buyers: Art Collectors, Gamers, and More

Given all the different NFT types, there are so many unique groups of people co-existing in the digital realm. From art collectors to gamers, speculators, and more, here are some of the specific types of people buying NFTs:

Art Collectors: Attracted by the uniqueness and potential legacy of digital art.
Gamers: Drawn to NFTs for their utility in providing exclusive in-game assets and experiences.
Brands and Celebrities: Using NFTs to connect with fans and introduce innovative merchandising opportunities.

Each of these groups has its unique reason for buying NFTs, from sheer appreciation for the art and technology to the potential it has to offer. But now that you know who buys NFTs, the question is, should you?

Should You Buy NFTs?

Deciding whether to buy NFTs is a personal choice that depends on your interest in the digital world and your appreciation for what NFTs offer beyond just a monetary aspect. We’ll cover the benefits and considerations below to leave you with a clear understanding of your next steps.

Benefits

What makes NFTs so special is that they are cemented on the blockchain, serving as irrefutable proof of ownership and preventing any concerns of duplication. This leads to benefits like:

Digital Ownership: NFTs provide a new way to own digital items. Whether it’s art, music, or in-game assets, owning an NFT means you have a verifiable claim to a digital item, secured by blockchain technology.
Support for Creators: Purchasing NFTs directly supports artists and creators, giving them a platform for recognition and financial support that simply isn’t available in traditional art and media industries.
Access to Communities: Many NFT projects are centered around a community where buyers gain access to exclusive groups, events, or experiences, creating a sense of belonging.
Personal Expression: Collecting NFTs allows you to express your personality and interests through the digital items you choose to own, much like physical collectibles.

Considerations

There’s no denying the benefits, but there are a few things you should consider before you go any further. You need a solid understanding of what NFTs are and how transactions work to ensure a secure experience.

Take care to ensure your transaction is secure by sticking with the best NFT marketplaces and using sound judgment. Never give anyone the keys to your digital wallet, and never transact off the platform you’re using to buy or sell an NFT.

Next Steps

So, you’re ready to dive into the vibrant world of NFT ownership - excellent choice. Now what, though? Our advice is to begin by doing your due diligence and learning all about these digital collectibles. Our blog is a great starting point. Here are some of our top resources:

But if you’re looking for a recommendation on what NFTs to buy to set yourself up for a fun, fulfilling experience, look no further than Pudgy Penguins.

We’ve been an innovator in the space since our brand’s inception in 2021 when 8,888 adorable, cuddly creatures were minted on the blockchain, each unique in its characteristics and personality.

Fast forward to the present day and we’re still leading the charge of innovation as the first Web3 brand to take things from the digital realm back into physical reality.

Our penguins merch consists of a wide variety of penguin toys that come up with unique traits and access to Pudgy World, where you can connect with other members of the huddle and play games. From penguin figurines to penguin stuffed animal toys, penguin collectibles, and more, we have so many fun-loving toys in store for you.

So, what are you waiting for? As we wrap up this guide to who buys NFTs, we invite you to join our family today. It’s a cold world out there, but we’ll keep you warm in the huddle with the rest of your new family!

Final Thoughts on Who is Buying NFTs

That concludes our overview of who is buying NFTs. These digital assets have captivated a diverse global audience, appealing to art collectors, gamers, tech enthusiasts, and more.

Whether for personal enjoyment, community involvement, or support for digital creators, NFTs offer a new frontier of digital interaction and ownership. If you're intrigued by the world of NFTs and want to explore further or start your collection, you’re not alone!

As you now know, Pudgy Penguins is one of the best examples of NFTs. So why not browse our marketplace or physical products today and experience the magic of the huddle firsthand? We can’t wait to welcome you in with open arms!

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Who Buys NFTs?