Millennials and Gen Z Plan to Spend Thousands of Crypto, NFT, Metaverse Land on Holiday Gifts

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Interest in digital assets has increased this year, with the next generation of investors in the foreground.

The value of the cryptocurrency market briefly exceeded $ 3 trillion in November, with top coins like bitcoin and ether reaching all-time highs. Other digital assets, like non-fungible tokens, or NFTs, have also soared in value. In November, the OpenSea NFT market exceeded $ 10 billion in total volume.

Demand for NFT’s art, music, and in-game assets, like digital plots in the Metaverse, has skyrocketed.

Now, during the holiday season, young investors are spending big on NFTs and other digital assets as freebies. Here’s a look at what five people are planning to buy.

Digital Earth and NFT Art for the Family

Cynthia Gentry plans to donate an NFT of a digital land to her sister and parents to share in the Metaverse. It could cost thousands of dollars, depending on factors like Metaverse play, demand, and size.

The San Antonio resident, 23, views NFTs as assets that will appreciate over time. “Funny, I don’t even think I have a budget,” she says. “I don’t feel like I’m spending money, [I’m] just store my money in another asset. “

For his mother and sister, Gentry plans to buy collectible NFTs from projects like World of Women and Crypto Coven that aim to empower women. Although she doesn’t know how much she will spend, each collection has a floor price, which is the lowest price available.

Sisters Cynthia Gentry, 23, and Imani Gentry, 19, with their mother, Brenda Gentry.

Courtesy of Brenda Gentry

The World of Women collection, which consists of 10,000 generated works depicting drawings by various women, has a current floor price of 1.95 ether, or $ 7,275. The Crypto Coven Collection includes 9,999 different witches and has a floor price of 0.19 Ether, or roughly $ 709.

She also plans to buy NFTs from artists like Lana Denina, whose popular Mona Lana project has a floor price of 0.24 ether, or around $ 895.

For his father, Gentry plans to get a Ledger Nano hardware wallet, which ranges from $ 59 to $ 119, or an NFT from a project with an “interesting and interesting track record,” Gentry says. She also hopes to pay for an online blockchain coding course for him, because “he enjoys freebies that can broaden his expertise in one way or another.”

Gentry’s sister, Imani, also plans to buy NFTs for all of his family for Christmas. She budgets for at least 2.5 ethers, or about $ 9,327 in total.

“Personally, I think sending digital gifts will be the norm and [part of the] the future because of its accessibility, “said the 19-year-old.” Honestly, I wish it had been a thing sooner. It saves time and wrapping paper and it’s cooler in my opinion. “

For her mom, Imani, who is also based in San Antonio, is considering buying a World of Women NFT, she says. “My mother sold hers in January for me to go to college. I would like to return the favor.”

Give friends their first digital asset

San Francisco-based Anisha Sunkerneni is eager to give her close friends and family their first digital assets, including Ethereum Name Service (ENS) domains and NFTs.

“Even more than NFTs, I think an ENS domain has the potential to really tie into your personality and your profile on the channel,” said the 26-year-old. “Getting the ones you want is pretty special. “

The ENS creates a domain, like “.com”, for the Ethereum blockchain which represents the cryptocurrency address of an investor. An ENS domain name appears as something like “YourName.eth”, rather than the random string of letters and numbers that usually signify your wallet.

Prices for ENS domains vary. One with five or more characters costs $ 5 in ether per year, while one with four characters costs $ 160 in ether per year, and one to three characters costs $ 640 in ether per year, according to the ENS Domains website. . Three and four character ENS domain names are more expensive due to the smaller number available.

Sunkerneni got into crypto this year, but “I see how it is turning into a big and important space, and I want to bring my loved ones into the fold,” she says. “Giving cryptocurrencies and NFTs as gifts seemed like a natural option. “

“I believe digital assets are extremely valuable”

Allison Reichel plans to send her family and friends the equivalent amount she would usually spend on cryptocurrency gifts or gift cards, but only if they are interested in receiving it.

“I think digital assets like bitcoin are something extremely valuable and represent many elements of both free markets and free choice, which means it is important that individuals choose to participate in these markets. and don’t feel pressured to do it, ”the 24-year-old said. old says.

Reichel, who is based in Austin, Texas, plans to offer a mix of bitcoin, Ethereum, and Solana. Currently, bitcoin is trading at around $ 46,953 according to Coin Metrics, but it is possible to buy fractional units called satoshis. Ether is trading at around $ 3,731 and SOL is trading at $ 160.

“I like to try and stick with assets that I think will be there for a while and hold their value, so while coins are fun I don’t really look there,” Reichel explains. .

Allison Reichel, 24, plans to gift digital assets like bitcoin as a holiday gift for friends and family.

Courtesy of Allison Reichel

“NFTs as gifts will have something new for the next few years”

Los Angeles-based Cooper Turley plans to spend around $ 10,000 on NFT as a giveaway. The 26-year-old is also excited to offer ENS domains as a way to “welcome them into Web3,” which is the decentralized iteration of the internet that powers blockchain-based applications like NFTs.

“I bought some music NFTs and went shopping on [platform] A nifty gateway for former NFTs of prominent creators who could make great gifts, ”said the 26-year-old.

Cooper Turley, 26, plans to spend around $ 10,000 on NFT as holiday gifts this year.

Courtesy of Cooper Turley

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