The latest ConsenSys Web3 Survey provides valuable insights into the growing trend of people worldwide engaging with NFTs, blockchain, and other web3 technologies. Conducted in collaboration with YouGov, the survey gathered responses from over 18,000 individuals across 18 countries in Africa, Asia, Europe, and the Americas.
One of the key findings of the survey is the increasing participation in web3 activities. The data revealed that 42% of respondents globally have either purchased or currently own cryptocurrencies, with significant growth observed in countries like the Philippines, Mexico, Germany, South Africa, and Japan. The popularity of NFTs is also on the rise, with countries like Nigeria, South Africa, India, and Vietnam showing high levels of familiarity with NFTs. Interest in NFTs is particularly strong in Nigeria, where 94% of respondents expressed intentions to invest in them within the next year.
Moreover, the survey highlighted a rise in engagement in various web3 activities, including collecting NFTs, using decentralized finance (DeFi), playing blockchain-based games, owning web3 wallets, and utilizing staking services. These trends underscore the increasing integration of web3 technologies into daily life, with web3 wallets emerging as essential tools for conducting transactions and managing digital assets.
The survey also shed light on the level of understanding of decentralization and blockchain among respondents. While awareness of these concepts is growing in countries like the United States, Nigeria, South Africa, and India, there is still a need for education, especially regarding web3 technology. Interestingly, blockchain awareness was highest in Nigeria and South Africa, indicating varying levels of familiarity with web3 across different regions.
When it comes to NFTs, the survey revealed that awareness is relatively higher compared to web3, with a significant number of respondents expressing intentions to invest in or collect NFTs in the near future. However, challenges such as security concerns, usability issues, and data privacy remain obstacles to the widespread adoption of web3 technologies.
Looking ahead, the survey suggests that while web3 and NFTs are gaining traction, there is a need for continued education and clearer regulatory frameworks to address concerns and promote broader acceptance. As more individuals discover the benefits of web3 wallets, NFTs, and blockchain, the findings from the ConsenSys survey provide valuable insights into building a better future for these technologies. By addressing issues of safety, usability, and understanding, web3 has the potential to revolutionize the way we interact with the internet and digital assets.