Dibbs Releases NFT Sentiment Report; 84 Percent of Respondents Would Purchase an NFT Backed by a Physical Item

BY Business Wire | ECONOMIC | 12/01/22 10:25 AM EST

Dibbs taps users of its blockchain-based collectibles marketplace to uncover first-of-its-kind insights on user sentiment toward NFT technology

LOS ANGELES--(BUSINESS WIRE)-- Dibbs, the world?s onramp to Web3, today released findings from the industry?s first NFT Sentiment Report, which surveyed hundreds of NFT adopters to understand consumer sentiment around NFTs today and into the future. In a largely pseudonymous industry where NFT holders can be hard to reach, Dibbs is uniquely positioned to tap the highly engaged users of its marketplace to understand broader sentiments around the evolving NFT industry and what the future of ownership looks like alongside the growth of Web3 and the Metaverse.

The survey found that 84 percent of respondents would purchase NFTs if they are redeemable for physical items. Proving a growing excitement for digital innovations like Web3 and the Metaverse, the data also indicates a clear desire for a platform that securely enables a digital presence for real-life collectibles?an untapped market that Dibbs is tackling through an end-to-end tokenization platform that mints and redeems collectible-backed NFTs.

While supporting the need to bridge the gap between physical and digital worlds, Dibbs? NFT Sentiment Report also indicates hesitation around NFTs, with half of respondents stating they don?t trust NFTs and cryptocurrency due to risks such as spam and fraud. To that end, nearly half of respondents agree that NFTs and cryptocurrency should be regulated similarly to financial services to protect consumers.

Other key findings the survey uncovered include:

  • 60 percent of respondents would purchase an NFT from a brand they love; concluding that brands today have an opportunity to create physically-backed digital assets that increase revenue potential and enhance consumer engagement by building exclusive online communities.
  • Nearly 60 percent of respondents want to collect NFTs to be used in future digital innovations like the Metaverse, video games, etc.; concluding that consumers see a future where NFTs are pivotal to engagement and ownership.
  • Some of the more common challenges today around owning NFTs include purchasing cryptocurrency (36 percent), setting up a wallet (35 percent), and transferring collectibles (16 percent). This demonstrates the market need for an end-to-end platform that handles everything from the secure storage of collectibles to regulated item tokenization, trade monitoring, and more.

?We?re seeing similar intrigue and enthusiasm around Web3 as we did with the evolution of Web2 and social media platforms. Consumers today are eager to engage more meaningfully with one another?and the brands they care about most?in more digitally-driven, modern ways,? said Ben Plomion, Chief Marketing Officer, Dibbs. ?But these enthusiastic consumers have been met with unregulated, risky opportunities and uncertainty around the technologies driving these innovations. Our survey data supports growing enthusiasm around Web3 technologies but also highlights an untapped market that helps brands and consumers navigate this digital transition with ease and confidence. Dibbs is doing just that with a customer-centric approach to tokenization, and we?re excited that consumers also see a future where physical items can seamlessly and securely live within digital worlds.?

About Dibbs:
With a secure platform for the minting and redemption of collectible-backed digital tokens, Dibbs is the physical world?s onramp to Web3, helping brands and IP holders create a digital presence for their real-life collectibles and forge a new path for deeper connection within their communities. Launched in 2021, Dibbs has raised more than $15 million in venture capital from a variety of notable investors, ranging from Amazon, Tusk Venture Partners, Foundry Group, CourtsideVC, and Founder Collective; to athletes including Chris Paul, Channing Frye, Skylar Diggins-Smith, DeAndre Hopkins, Kevin Love and Kris Bryant. The company is based in Los Angeles, CA.

Source: Dibbs

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