With the rise in popularity of non-fungible tokens (NFTs), many have taken to using these assets as a trading strategy. About 64% of people in a recent survey said their main reason for buying an NFT was “to make money.”

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Blockchain Monitoring Software Development Company DEXterlab questioned over 1,300 people on Twitter spoke about their NFT buying habits in late May/early June. While the majority hope to profit from NFT trading, less than 42% have made a profit so far, according to the results.

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The second most frequently cited reason for buying an NFT was that around 15% responded that it should be part of the community and “flexible”.

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“Humans are very social creatures, so the desire to be part of a community and show off is really not surprising,” writes DEXterlab.

The team highlighted the success of Bored Ape Yacht Club (BAYC), whose ranks include celebrities, as well as exclusive perks such as access to holder-only events or new popular NFT drops.

While some NFT collections, such as the BAYC collections, often have floor prices in the tens or hundreds of thousands, almost half of the respondents said they were comfortable paying only the modest price of $50 to $500 per NFT.

Surprisingly, in the second most popular answer, a quarter of respondents said they were willing to spend over $2,000 for NFTs at the top of the survey.

Over the past 30 days, the floor prices or market capitalization of some of the largest blue chip NFT collections such as CryptoPunks, Mutant Ape Yacht Club (MAYC), BAYC and Moonbirds have halved. Despite this, these collections continued to top the NFT sales charts over the same period.

While NFT prices have fallen across the board, there are still examples of NFTs that have challenged the prevailing bear market.

Recently, a free collection with no utility or roadmap called Goblintown topped the charts and has since stayed in third place for 30 days, grossing nearly $70 million in volume.

Currently, the minimum price of the collection is 3 Ethereum (ETH) or about $4,000, and the most expensive Sales On June 1, he earned 77.7 ETH, which at that time was worth almost $151,000.

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Other signs point to a healthy market for those who still want to profit from their NFT purchases. According to a recent report from DappRadar, NFT sales totaled $3.7 billion last month despite market conditions.

The report also shows that Solana NFT had its best trading month in the network’s history, earning $335 million across all trading platforms, up 13% from April.

NFTs continue to create a robust market for themselves, and widespread adoption is on the way. According to a report from CoinGecko, the NFT market is expected to see over 800 billion transactions over the next two years, although hodlers will have to wait a bit to realize their profits.