MetaJuice NFT data shows majority are buying NFTs as a status symbol

MetaJuice, a subsidiary of Together Labs, has shared NFT data generated from a survey including more than 6,000 NFT buyers and sellers within the largest Web3 social metaverse, IMVU. The data shows the purchasing behavior of NFTs within the IMVU community.

MetaJuice NFT data shows NFTs are a status symbol

IMVU sent out a questionnaire with 35 questions. The survey was sent to people of different ages, genders, and platforms. The survey comes when the NFT market has significantly recovered, with trading volumes increasing by 42.9% from the $662 million reported in October 2022 and the $946 million reported in January 2023.

According to the researchers, most people bought NFTs for status, originality, and visual appeal. On the other hand, only 13% of people purchased NFTs to resell them. 87% of NFT owners made their first purchase on IMVU, while 93% of NFT buyers were interested in making a subsequent purchase.

The report also assessed the performance of IMVU against other competing marketplaces. It noted that the other digital marketplaces users prefer to include Sandbox, Coinbase, and Blur. 40% of the NFT users have said that their NFTs are creative projects, while 68% of buyers and 69% of sellers were satisfied with their involvement in the NFT industry.

The survey also showed that most NFT users acquired knowledge about the industry from digital platforms, while 45% gained awareness from social media platforms. 27% also obtained information through online news and media websites.

The survey also shows that in April 2021, awareness of NFTs was 18%, which increased to 71% in January 2023. A notable change in attitude toward NFTs has also been witnessed. In March last year, only 26% of the users involved in the survey had a favorable outlook towards NFTs, while 44% held a neutral view.

MetaJuice NFT plans

Creators on IMVU will get a chance to transform their in-game items into mintable NFTs, and the artists will get to specify the prices, number of items within the collection, and descriptions. The digital items will also be listed on the IMVU marketplace after approval.

Together Labs also releases a new Limited Edition NFT every week. The digital collectibles garner much interest, and they are quickly sold out. The collection has seen MetaJuice ranking third in the DappRadar seven-day NFT ranking.

MetaJuice is planning to venture into the metaverse using blockchain-based economies. With this, every user can own, create, earn, and be part of the future of this platform. The goal behind it is to have a world where players, users, and creators can be part of the entire journey.

The platform launched a meta token known as VCCOIN, NFT assets, and it is also planning to have a new global metaverse coin outside Canada and the United States. MetaJuice is a subsidiary of Together Labs, and it is positioning itself to achieve its vision.