According to a survey by CoinGecko, the majority of non-fungible token (NFT) holders own 51 or more NFTs, with those who only hold a single NFT comprising the smallest group among respondents. Of those surveyed, 26.5% stated that they were "avid collectors" with 51 or more NFTs, followed by those holding between 2 and 5 NFTs at 17.6%, while those holding just one NFT accounted for only 4.8%. The report suggests that people rarely stop participating in NFTs after their first purchase, and almost 39% of those surveyed acquired their first NFT during the first bull market of 2021. Despite crypto entering a bear market in 2022, the year still recorded the second-highest influx of new NFT collectors over the past five years, with just over 25% acquiring their first NFT during the year. NFT development is expected to accelerate adoption in 2023, with new offerings such as Bitcoin ordinals and Stamps NFTs, as well as the emergence of new marketplaces like Blur.

(By CIARAN LYONS)