Are NFTs the great British turnoff?

Article by Sara Lebow | Apr 1, 2022

Companies tempted to ride the blockchain wave may want to avoid dipping their toes into nonfungible tokens (NFTs) just yet. Among adults in Great Britain who’d heard of NFTs, 43% said they’d feel less favorable toward a company if it started offering them, and 32% said their opinion wouldn’t change either way. Only 3% would view a company more favorably if it offered the digital tokens.

Beyond the chart: Individual NFTs have sold for multimillion-dollar sums, but these tokens could be more gimmick than gain for brands. Only a quarter of adults in Great Britain have both heard of NFTs and understand what they are. And some companies that took the plunge have faced consumer backlash over the high environmental cost of NFTs and the great potential for fraud.