Utility and long-term profits are the top reasons for buying non-fungible tokens (NFTs), according to a survey by CoinGecko and Blockchain Research Lab. Over 77% of respondents said using an NFT for its intended function had some level of importance, while just over 76% gave a level of importance for hoping to sell their NFTs at a higher price later on. The third most important reason was to participate as a stakeholder in a decentralized autonomous organization (DAO), with 72.9% motivated by the opportunity to gain a stake in such a project. Other high-ranking reasons included enthusiasm for technology, community involvement, and enthusiasm for an NFT collection's business or artwork. Disrupting established structures or industries was listed as a top reason for buying by 59.5% of respondents, the least important reason on the list.

(By STEPHEN KATTE)