Most consumers would purchase an NFT if it came with a physical item: Report

As the interest in NFTs continues to grow, a new report shows that consumers would be open to buying NFTs if they were redeemable with a physical item.

Tokenisation platform Dibbs released its NFT Sentiment Report highlighting an excitement for digital innovations like Web3 and the Metaverse, but the data also indicates a clear desire for a platform that securely enables a digital presence for real-life collectibles.

The report also showed that while curiosity and excitement are growing for digitalised assets, there is also a need to ensure they are safe and secure.

Half of the respondents said they don’t trust NFTs and cryptocurrency due to risks such as spam and fraud. To that end, nearly half of the respondents agree that NFTs and cryptocurrency should be regulated similarly to financial services to protect consumers.

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 tokenisation, trade monitoring, and more.

Ben Plomion, chief marketing officer at Dibbs said the company is seeing similar intrigue and enthusiasm around Web3 as we did with the evolution of Web2 and social media platforms.

He said, “Consumers today are eager to engage more meaningfully with one another—and the brands they care about most—in more digitally-driven, modern ways. 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 tokenisation, and we’re excited that consumers also see a future where physical items can seamlessly and securely live within digital worlds.”