Only 1 out of 10 NFT owners never experienced a scam, study shows

PrivacyHQ surveyed implicit 1,000 individuals successful the US who actively put successful and ain NFTs to uncover however they are keeping their integer collectibles safe.

According to the findings precocious published by the integer privateness cognition base, 9 retired of 10 investors person experienced an NFT scam.

Favorite NFT wallets

While answering which NFT wallets they use, respondents besides revealed however overmuch they’ve invested successful them, and however unafraid they consciousness each enactment is.

On average, the survey participants invested $623 successful NFTs.

A database of astir communal NFT wallets: Showing the percent utilizing the wallet, the mean sum invested, and the percent believing the wallet is harmless (Source: PrivacyHQ)

MetaMask surfaced arsenic the archetypal prime for radical looking to store NFTs, arsenic good arsenic the lone wallet utilized by much than fractional of the respondents (52.8%). 

However, Math Wallet, Trust Wallet, AlphaWallet, and Coinbase Wallet were not lagging that acold behind– receiving an support standing of betwixt 49.9% and 46.8% each.

That said, Coinbase Wallet emerged arsenic the front-runner successful presumption of full investment, with $675 invested successful the wallet connected average.

“A consciousness of security, however, was not a fixed with immoderate of the wallets used. While MetaMask near users feeling much unafraid than immoderate different wallet, lone 63.8% of radical felt their investments were harmless there,” the survey pointed out.

When asked which wallet types they similar for managing their NFTs, respondents gravitated towards desktop wallets (75.5%). That said, 63.2% reported preferring the enactment to usage their mobile device, portion each 4th responsive preferred the multi-device support.

Furthermore, much than fractional (56.7%) stated unreality retention arsenic important, portion astir a 4th (26%) pointed retired cross-chain compatibility arsenic a cardinal feature.

Exposure to NFT scams

Less than a fractional of respondents stated they felt precise unafraid astir the information of their NFTs, portion astir 15% admitted they didn’t consciousness unafraid astatine all–despite the information that the bulk is being proactive successful protecting their assets.

Most commonly practiced information measures by percent (Source: PrivacyHQ)

According to the findings, the bulk of NFT owners usage analyzable passwords (67.3%), two-factor authentication (65.2%), and support a betterment operation successful a unafraid spot (55.3%). Furthermore, much than 1 successful 3 respondents backs up their NFTs daily.

The study further uncovered which percent already experienced a scam and what benignant of a information menace it was.

Most commonly experienced NFT scams by percent (Source: PrivacyHQ)

The astir communal scam radical reported was an NFT supplier shutting down altogether (44.8%), followed by investing successful an NFT task that disappeared. 

Another 43.3% fell unfortunate to a fake marketplace scam, portion 41.8% participated successful a fake NFT giveaway. 

While lone 1 retired of 10 respondents could accidental that they person ne'er experienced a scam, 2 retired of 3 NFT owners admitted having insubstantial hands and panic selling NFTs successful the past. 

However, a immense bulk of those who experienced losing an NFT (over 90%) were capable to regain part, if not all, of what they had lost.

Percentage of those who suffered NFT losses and were capable to recoup them