At Stash, we have organized a user research through our partnership with Troy in the Discord community. The purpose of the research was to find out
if NFT rentals and lendings make sense for the end user
if guilds are effective in user onboarding into crypto and NFTs
Running the research on one of the most prominent gaming guilds, Troy, our purpose is to understand the level of NFT adoption and access is executed. We also explore new ways to increase adoption and utilization for NFTs like NFT rentals and lendings.
Q0: Are you a NFT owner? If yes, how many?
This is the Oth question as the composition of the respondents in terms of NFT ownership is very likely to affect the preferences for the rest of the questions.
Interestingly, 7 out of every 10 respondent did not own any NFTs. It should be noted that in the mobile apps market, in app-purchase conversion rate among installs are around 2-3% average. This could potentially mean that even in a respondent base that engages with games through scholarships (free NFT Rentals with profit sharing), the conversion rate to NFT purchases are ~30%. If this proves to be scalable, it could mean a 10x bump in the market size for gaming.
Q1: Did you buy NFTs since joining Troy Community or other guilds?
More than half of the respondents expressed their wish to keep on with scholarships. This showed that users and scholars were willing to utilize NFTs however not quite ready to commit for a purchase.
Did you play any other P2E game other than those offered in the community since you joined?
More than 60% of the respondents expressed that they only played those games that were offered in the community. This shows the power of community building as well as word-of-mouth marketing for adoption.
Q3: Did your interest towards crypto increase after joining the community?
2 out of every 3 respondent expressed that their interest towards crypto increased in terms of their transaction frequency, showing that community building and NFT access accelerates the adoption.
Q4: Do you know that you can rent or lend NFTs?
Surprisingly most of the users were already aware that they can rent or lend NFTs. This is not to say if they in fact executed a transaction by way of renting or lending.
Q5: Would you lend out a NFT if it would generate passive income?
Almost all of the respondents are inclined to lend out their NFTs if it would be generating passive income for them. This means that they are familiar with the guild and scholarship model and are willing to lend NFTs to other players if or when they own one.
Q6: Would you rent a NFT to test out a gaming experience before buying it?
Almost 9 out of every 10 respondent expressed that they would be willing to rent a NFT to test out a gaming experience. This entails two insights: 1) Free-to-play experiences are needed to acquire users easier. 2) Players are willing to spend some value for in-game items through renting.
As always we are looking out for the next rockstar to join our lean & mean team. Check out free slots.
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