What is the importance of the French for NFTs and cryptocurrencies?

Gen Z and millennials leading the way.

More than ever, 2021 is the year of cryptocurrencies, Bitcoin and Ethereum leading the way, with the explosion of NFTs and the metaverse, a new promised land for brands.

Fashion, retail, music, luxury, GAFA, insurance or even cosmetics, many industries have invested in these new universes where very active communities can be found. But what do the French think? What interests do they have in these cryptocurrencies and what place do they want to give them in their daily lives?

dyna, “The world’s largest data platform for insights, activation and measurementsurveyed more than 11,000 consumers in 11 countries (US, Canada, UK, France, Spain, Germany, Netherlands, Italy, China, Japan and Australia) for the New Experience Economy report. We are particularly interested in the results for the French territory.

Ethereum, Solana, Dogecoin, Cardano, Tezos, etc. Since the creation of Bitcoin, many other cryptocurrencies – altcoins – have appeared and have been linked to various projects and blockchains. The profile of users can therefore be very varied. In France, more than one in 10 French (13%) have bought or invested in bitcoin or another cryptocurrency, a quarter of whom are from Gen Z (under 25) or millennials (25-39 years old). Populations already very present in virtual universes where NFTs and other virtual currencies are bought and exchanged.

According to the survey, 72% of Gen Z men (under 25) say they are interested, even “extremely” and “very interested”, in investing in NFTs, this new asset class based on digital art. These are 65% men of the Millennium generation (25-39 years old) versus 49% men of Generation X (40-55 years old). 59% of Gen Z women, more than half of Millennial women (58%) and 26% of Gen X say they are interested in NFTs.

A genuine enthusiasm that can only grow with the ever-increasing immission of brands multiplying collaborations and partnerships in virtual universes. Or who is held back by the volatility of the prices of the cryptocurrencies on which these non-fungible digital tokens are based.

The cryptocurrency sector seems to be particularly popular with men (40% of GenZ, 28% of Millennials), even if women have not been left behind, already accounting for 15% among Gen Z and 20% of Millennials.

What could convince French consumers to introduce cryptocurrencies into their daily lives? At the moment, only 9% of French respondents have already used an alternative currency or cryptocurrency to buy something, with Gen Z and Millennials always having a higher share (vs. the 0% of the “baby boomers” category”) .

The top 3 purchases made with cryptocurrency or an alternative currency:
– 27% in gift cards[27 %]†
– 24% for clothing, shoes and/or accessories[24 %]†
– 23% for tickets related to events [23 %]†

21% of respondents used it to acquire NFTs.

Many analysts believe that the French will adopt cryptocurrency when people accept to receive their salary in cryptocurrency‘, the study underlines. 43% of respondents say they are between “extremely interested” to mildly interested in receiving their salary in this form versus 48% who are not.

77% of French men are millennials [âgés de 25 et moins] are interested or even “extremely” and “very interested” in receiving their salary in crypto. †Globally, the numbers are even more interesting: 34% of Chinese workers would like to receive their salary in crypto, 37% of American workers agree, and Canada drops just below with 32% positive opinion.

As the European Union warns cryptocurrency investors that they risk losing everything because of their “risky” and “speculativeLike savings invested in stocks in the stock market, for example, it is good to remember that there are stablecoins, currencies whose price is backed by the euro or dollar and which stabilize the value of these cryptocurrencies. †

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