It seems like almost every day another brand is launching its own NFT, but who is actually buying these digital goods?
Not that many everyday consumers, according to an October 2021 survey by Forrester.
Although popular brands like Taco Bell, e.l.f Cosmetics and the NBA have all released their own non-fungible tokens—we even started a list to keep up with them all—the average consumer is still wondering what the heck NFTs are.
The survey of 506 adults in the U.S. found that 45% of respondents had never heard of NFTs, and 28% still don’t understand them.
Part of this disconnect could be that brands are just trying to get ahead of their consumer when it comes to NFTs, which are digital art pieces that use cryptocurrency technology to make it one of a kind.