MetaJuice launches extensive NFT buying data with status as the overwhelming motivation for buyers

Primary motivation for 47+% of NFT buying is to “stand out”

Secondary motivation at 17+% is to “wear the avatar”

“Limited editions” and “exclusives” overwhelming motivations for future purchases

Satisfaction at 68+% levels

REDWOOD CITY, California, 27 February 2023 /PRNewswire/ — MetaJuicethe blockchain-focused subsidiary of Together Labstoday releases data from over 6,000 buyers and sellers of NFTs across the world’s largest Web3 social metaverse, IMVU. The data provides insight into the NFT purchase motivations of IMVU users, including respondents who have been active in the virtual world since 2006.

Main findings from the survey:

• The desire to express oneself is echoed in the owner survey findings, which showed that *74% bought them for status*, uniqueness or aesthetics, and only 13% bought NFTs for the ability to resell them.
• An overwhelming one 93% of buyers and 94% of sellers have indicated interest in buying and selling NFTs again in the future, respectively.
• 87% of NFT owners made their first NFT purchase on IMVU, and 93% of NFT buyers are interested in will buy again.
• When you ask NFT users where, outside of IMVU, they make their purchases, Sandbox (15%), Coinbase (13%), and Obscurity (1.3%) were the 3 best results.
• With sentiment shared by buyers and sellers, 70% of buyers and 71% of sellers considered NFTs either Very favorable or Something favorable, respectively
• When describing their opinions about NFTs in general, the most popular response 40% of users describe NFTs as creative.
• 68% of buyers and 69% of dealers are satisfied with their involvement in NFTs.
• Most users learn about NFTs from online sources, including 45% learn about them at Social Media and 27% get their information from news and media websites.
• The more people are aware of and educated on NFTs, the more positively they treat the subject. Awareness of NFTs was 18% in April 2021but it blew up 71% in January 2023.
• Over the same time, the general NFT sentiment has followed suit. IN March 2022just 26% of users surveyed had either a very favorable or somewhat favorable response to NFTs, and 44% had a neutral perspective.
• Just nine months later, in January 2023, 49% of all users is Very or Something favorableand just 24% have one Neutral assessment.

Buyers said that:

“I was surprised how popular they are. They sell out so fast. I’m glad to see people supporting IMVU…NFTs,” said user 4Y.

“I like the fact that I’m less likely to meet people with the same things as me. I like to be unique and stand out. With an NFT, when I see someone else with it, it feels like solidarity.” user FlexFactor explains.

“The ability to own the rights to an NFT and stylishly display your digital artifacts to other users adds enormous value,” said John Burris, president of MetaJuice. “When NFTs are bought and sold again over time, it helps build a shared notion of status-led trends in the metaverse. People want to own the rights to items that increase their perceived status, and how they appear in the Metaverse as NFT- is a central part of it.”

IMVU creators will soon have the option to turn the products they create in-game into embossed NFTs, with artists detailing the total number, item descriptions, and set prices. Once approved, their digital items will appear on the in-game IMVU Marketplace, where buyers can pay in MetaJuice’s VCOIN. In addition, Together Labs releases Limited Edition NFTs every week, with tens of thousands of items selling out within 30 minutes to two hours, and has seen MetaJuice climb the DappRadar 7-day collectibles as high as #3.

IMVU sent a 35-question survey to participants from all genders, ages and platforms. Over 40% of participants are between the ages of 18-24, over 60% of participants identify as female, and more than 30% have been on IMVU for two years or more. Participation was completely voluntary, without incentive. The release of this data comes at a time of resurgence in the NFT markets, with trading volumes from 662 million dollars in October 2022 increases by 42.9% more 946 million dollars in January 2023.

About MetaJuice
MetaJuice (www.metajuice.com) unlocks the metaverse. By building blockchain-powered economies where everyone can own, earn, create and shape the metaverse of the future, MetaJuice will realize its vision of opening the metaverse and creating a world where users, players and creators can participate and share in the success. MetaJuice created and launched the VCOIN meta token, NFT resources, and soon a new global metaverse token available outside the US and Canada. MetaJuice is the blockchain subsidiary of Together Labs, whose portfolio includes IMVU, the world’s largest Web3 social metaverse.

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SOURCE MetaJuice