Interest in web3 assets soared this year, with millennials and Gen Zers playing a massive role in propelling the industry. With cryptocurrencies, non-fungible tokens (NFTs), and the metaverse performing exceptionally well this year, young investors in the aforementioned cohorts are planning to spend thousands of dollars in gifts this festive season.
Cynthia Gentry, a 23-year-old San Antonio resident, seeks to gift her younger sister and month NFTs of a virtual land lot in the metaverse. Specifically, Gentry plans to buy NFTs in women empowerment projects like World of Women and Crypto Coven projects, which have floor prices of $7,275 and $709, respectively.
These gifts will set her back a few thousand dollars, depending on factors like the metaverse game in which she intends to buy the land, the demand in the game, and the size she plans to purchase. However, Gentry is willing to part with the funds, seeing as she believes the NFT of the piece of land will appreciate over time.
She added that,
It’s funny, I don’t think I even have a budget. It doesn’t feel like I’m spending money, [I’m] just storing my money in a different asset.
Apart from the above projects, Gentry also looks to buy NFTs from artists like Lana Denina, whose Mona Lana project has a floor price of 0.24 ETH (approximately $895).
For her father, Gentry intends to purchase a Ledger Nano hardware, which ranges from $59 to $119, or an NFT from a collection with an interesting roadmap. She also hopes to pay for an online blockchain coding course because he likes gifts that can help expand his expertise.
Exposing friends and family to the digital asset sector
Anisha Sunkerneni, a 26-year-old San Francisco resident, seeks to gift her family and friends their first digital assets, including Ethereum Name Services (ENS) domains and NFTs. According to her, ENS domains have the potential to be tied to someone’s on-chain personality and file. She added that getting a domain name that someone wants is pretty special.
While she entered the crypto space this year, Sunkerneni said,
“I see how important and big of a space it’s transforming into, and I want to bring those I care about into the fold. Giving crypto and NFTs as gifts sounded like a natural option.”
24-year-old Allison Reichel seeks to send her friends and family the same amount she would have spent on their gifts in crypto. However, she only extends this offer to friends and family members that are willing to accept this offer.
According to her, cryptos like Bitcoin (BTC) are extremely valuable and represent many aspects of freedom like free markets and choice. Apart from BTC, she believes Ethereum (ETH) and Solana (SOL) are valuable assets, seeing as they are likely to be around for a while and maintain their value.
