Cryptocurrency

NFT flipping not so profitable for more than half of buyers: Survey

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NFT flipping not so profitable for more than half of buyers: Survey

With the surging popularity of nonfungible tokens (NFTs), many have taken to “flipping” these assets as a trading strategy. Around 64% of people in a recent survey said their top reason for buying an NFT was “to make money.”

Blockchain monitoring software company DEXterlab polled more than 1,300 people on Twitter (NYSE:TWTR) about their NFT buying habits from late May to early June. Despite a majority looking to gain from NFT trading, less than 42% have made a profit so far, according to the results.

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