With the holidays right around the corner, many people are in the mood to receive and give gifts, and several millennials are now looking to crypto and non-fungible tokens (NFTs) to get the job done.
Millennials Think NFTs Make the Perfect Gift
Many millennials have flocked to crypto in recent years given that they have lost what little trust they had of the standard financial services industry. Many grew up during the time of the Great Recession and have come to believe that banks and other standard institutions are designed to cater only to the wealthy. Thus, they are now viewing crypto in a whole new light, and allegedly feel more comfortable investing in crypto than they do stocks, bonds, and other traditional options.
In addition, the world of NFTs has grown rapidly in just the past year alone. Many are selling like hot cakes for hundreds of thousands of dollars, making them very popular investing options for some of today’s newest crypto fans.
NFTs are particularly exciting to individuals like Cynthia Gentry. As a 23-year-old resident of San Antonio, Texas, Gentry – like a lot of millennials – is intrigued by the idea of owning a “piece” of something, which is exactly what an NFT is designed to represent. As a token tied to a full, physical asset, NFTs democratize asset ownership somewhat by breaking assets down into smaller parts. From there, multiple individuals can buy the related tokens and claim a portion of ownership.
In an interview, she stated:
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.
Gentry says she is planning to purchase collectible NFTs from World of Women and Crypto Coven as Christmas presents for her mother and sister. She isn’t sure how much she’ll spend just yet, though she’s confident she’ll find something given that both platforms offer NFTs at a wide range of prices.
Her sister Imani is also looking to buy NFTs for her family. She has at least 2.5 ether to spend, and she’s looking to utilize it wisely during the holiday season. She says:
Personally, I think sending digital gifts will be the norm and [part of the] future because of how accessible it is. I wish this was a thing sooner, honestly. It saves time and wrapping paper and it’s cooler, in my opinion.
ENS Domains Are Also Pretty Cool
Another person looking to gift her friends with digital assets Is Anisha Sunkerneni, who is based in San Francisco, CA. She is also looking to gift them with Ethereum Name Service (ENS) domains and said:
Even more than NFTs, I think an ENS domain has the potential to really be tied to your on-chain personality and profile. Getting the one you want is pretty special.
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