In news that will come as a shock to absolutely nobody, the results of a survey conducted by ArtTactic and released on Tuesday by the Hiscox Online Art Trade Report have determined that 82 percent of NFT-buying respondents said they were motivated by investment opportunities when purchasing the non-fungible tokens. After an extraordinary Christie’s auction in 2021 that saw an NFT by the artist Beeple selling for $69,346,250, NFTs have been a fixture of the art and financial investment world for over a year. But consumers, artists and platforms are still getting a handle on the technological and artistic possibilities NFTs represent, as well as their notable downsides in realms of security and environmental concerns. In the interim, the realm of NFTs “is still very much a speculator’s market so we can expect many more ups and downs,” Robert Read, the head of art at Hiscox Group, said. Interestingly, ArtTactic also found that while 96 percent of male NFT buyers made their purchases with investment in mind, only 67 percent of female buyers said the same.
