A poll of UK investors found a growing interest in new asset classes that threaten to eclipse traditional finance, thanks to reasons such as ease of access and a nascent crypto market.
“The time is ideal for tokens to take centre stage, fueled by a challenging climate for traditional investment vehicles due to the epidemic, low-interest rates, and inflation.”
In 2022, 24% of those polled expressed interest in investing in tokens or nonfungible tokens (NFT). Indicating that token usage has reached a “critical tipping point”. As a result, an increasing number of providers and exchanges are attempting to cash in on the growing interest.
Influencer marketing via artists, singers, and collectors is a significant motivator for nearly 55% of existing crypto investors in the UK. While the ability to make purchases through app-based marketplaces is a key driver for 49%:
“By 2022, 41% of Londoners will be willing to buy, use, or exchange a token (such as an NFT).”
Women have less exposure to tokens and NFTs than men
The most common age group in the UK that prefers tokens and NFTs is 18-24 years old (46%). With 53% citing the ability to invest via applications or online portals as a major influencing factor.
The survey, on the other hand, revealed the significance of education in encouraging crypto-based investments. The poll also reveals:
“When it comes to tokens, over half of those polled (47%) have yet to invest. Because they don’t know enough about them, and 34% don’t know an easy and secure way to invest.”
Women have less exposure to tokens and NFTs than males, according to the study. Although they both prefer to invest through online platforms. Surprisingly, 59% of female investors said they wanted to feel connected to the underlying asset before investing.
The Financial Conduct Authority (FCA), the UK’s leading financial regulator, ordered all non-registered crypto ATMs to stop down immediately or face unspecified further action on March 11.
According to reports, the FCA identified three major reasons for the abrupt enforcement. Including a lack of regulatory structure, the high-risk potential of fluctuating assets. As well as the need of adhering to the Money Laundering Regulations’ principles (MLR).