1 in 4 American households have bought or sold crypto/NFTs; Nearly 60% of avid sports fans treated themselves
Fans like the perks of NFT ownership; Search more
While the concepts of cryptocurrency (Bitcoin, Ethereum, etc.) and non-fungible tokens (NFT) may still be alien to many Americans, 24 percent of households in the US have owned one or both. And the numbers are rising dramatically among avid sports fans, where 57 percent have acquired these new financial assets, along with 34 percent of sports fans.
Involvement in buying or selling crypto and NFTs is particularly strong among younger demographics, with 42 percent of those aged 18-34, 29 percent of those aged 35-54, but just 7 percent of those aged 55 and over saying that she has either bought or sold a member of her household.
Almost three to one, more men (37 percent) than women (13 percent) took part.
“Although we are in the early innings of crypto and NFT ownership, sports fans have shown a real inclination to engage in these markets,” said Daniel Ladik, Seton Hall’s marketing professor and poll methodologist. “If managed effectively, NFTs could become an important revenue stream as well as a new fan engagement opportunity for sports brands. In a digital age, interactive assets like NFTs can foster a sense of ownership and belonging in owners – key attributes for brand success.”
These were the findings of a Seton Hall sports survey conducted this past month of 1,514 adults across the country. The survey includes a nationally representative sample weighted using numbers from the US Census Bureau for gender, age, race, education, income and geography, and has a margin of error of +/- 3.2 percent.
Crypto/NFT breakout
When asked if their holdings were cryptocurrencies and/or NFTs, respondents indicated they were more involved with crypto. Of those holding and/or selling both, 62 percent reported only crypto, while 31 percent reported only NFTs. Seven percent said both.
The sports marketplace has NFT supporters
While NFTs and fan tokens have value in terms of their scarcity, the main value of these digital offerings lies in the benefits due to their owners. A number of sports teams offer perks to their NFT holders and the Seton Hall Sports Poll asked participants about their interest in these perks. Specifically, they were asked if things like discounts in team stores, converting a match day ticket into a digital trading card, a ticket upgrade to a premium seat, or being allowed to enter the field or pitch after a game, a fan/buyer have appeal.
NFT Benefits
Upgrading a ticket at no additional cost appears to be the most popular “perk” for NFT holders, with 43 percent of the general population agreeing with this benefit (66 percent of dedicated fans, 58 percent of sports fans).
Team store discounts scored 34 percent “yes” among the general population (49 percent among sports fans, 66 percent among dedicated fans); Converting a game ticket into a digital collectible was “yes” by 28 percent of the population (40 percent among sports fans, 54 percent among dedicated fans); Walking on the field or court after a game was rated “yes” by 33 percent of the general population (45 percent sports fans, 57 percent sports enthusiasts); and being a member of an organization’s executive committee voted 37 percent of the general population (46 percent for sports fans, 60 percent for avid fans).
“The numbers suggest that NFTs represent fertile ground for leagues to improve the fan experience,” said Professor Charles Grantham, director of the Center for Sports Management at the Stillman School of Business at Seton Hall, which sponsors the survey. “But perhaps because teams and leagues do not fully understand the nature and potential of NFTs and perks like a digital VIP card, this ground has yet to be sown effectively by major sports organizations across the United States.”
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For questions with graphical breakdowns, see an online version of this press release at http://blogs.shu.edu/sportspoll/
May 2022 Seton Hall Sports Poll Results
This SHSP was conducted May 5-9 and includes responses from 1,514 US adults with an error rate of 3.2%. The sample reflects US Census percentages related to age, gender, income, education, ethnicity, and region.
Cryptocurrencies, NFTs and fan tokens, digital assets all based on blockchain technology, are gaining popularity among sports teams and athletes.
Q15a. Including all members of your household, someone has ever bought a cryptocurrency (e.g. Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), etc.) and/or Non-Fungible Tokens (NFTs)?
| N=1,514 | Average population | sports fan | not a fan | Enthusiastic fan | casual fan |
| Yes | 24% | 34% | 11% | 57% | 20% |
| no | 65% | 59% | 73% | 39% | 72% |
| Don’t know/no opinion | 11% | 7% | 16% | 4% | 8th% |
Q15a. By age
| N=1,514 | Average population | 18-34 | 35-54 | 55+ |
| Yes | 24% | 42% | 29% | 7% |
| no | 65% | 43% | 59% | 86% |
| Don’t know/no opinion | 11% | fifteen% | 12% | 7% |
Q15a. By gender
| N=1,514 | Average population | Masculine | Feminine |
| Yes | 24% | 37% | 13% |
| no | 65% | 55% | 74% |
| Don’t know/no opinion | 11% | 8th% | 13% |
15aa. You have indicated that you or a member of your household have previously purchased cryptocurrencies or NFTs. Which of the following statements is true? [Shown only to “yes” in Q15a.]
- I/they hold and/or sell cryptocurrency.
- I/they hold and/or sell NFTs
- I/she hold and/or sell BOTH Cryptocurrencies and NFTs
| N=364 | Average population | sports fan | not a fan | Enthusiastic fan | casual fan |
| Hold/sell cryptocurrencies | 62% | 56% | 84% | 60% | 51% |
| Hold/sell NFTs | 31% | 37% | 8th% | 37% | 36% |
| Both | 7% | 7% | 8th% | 3% | 13% |
Beyond their value as a sports collectible (i.e. the equivalent of a digital autograph or coveted sports card), NFTs and fan tokens can also offer additional fan benefits that function like a digital VIP card. Many sports teams and athletes offer NFTs and Fan Tokens.
Assuming you are the holder of an NFT or fan token of your favorite sports team/athlete, would any of the following benefits interest you?
Q15b. Significant discounts in the Team Store for official merchandise (e.g. jerseys, caps, exclusive items)
| N=1,514 | Average population | sports fan | not a fan | Enthusiastic fan | casual fan |
| Yes | 34% | 49% | fifteen% | 66% | 38% |
| no | 40% | 33% | 49% | 23% | 39% |
| Don’t know/no opinion | 26% | 18% | 36% | 11% | 23% |
Q15c.Converting your match day ticket into a digital trading card that can be sold or traded?
| N=1,514 | Average population | sports fan | not a fan | Enthusiastic fan | casual fan |
| Yes | 28% | 40% | 12% | 54% | 31% |
| no | 45% | 41% | 49% | 35% | 46% |
| Don’t know/no opinion | 27% | 19% | 39% | 11% | 23% |
Q16a. The benefit of walking around the field or court for 15 minutes after the game to take photos?
| N=1,514 | Average population | sports fan | not a fan | Enthusiastic fan | casual fan |
| Yes | 33% | 45% | 17% | 57% | 37% |
| no | 42% | 37% | 49% | 33% | 40% |
| Don’t know/no opinion | 25% | 18% | 34% | 10% | 23% |
Q16b. The possibility of a ticket upgrade to more premium seats at no additional cost?
| N=1,514 | Average population | sports fan | not a fan | Enthusiastic fan | casual fan |
| Yes | 43% | 58% | 24% | 66% | 52% |
| no | 34% | 28% | 42% | 25% | 31% |
| Don’t know/no opinion | 23% | 14% | 34% | 9% | 17% |
Q16c.Being a member of a governance committee for your sports teams and providing input and feedback on decisions regarding sports organization?
| N=1,514 | Average population | sports fan | not a fan | Enthusiastic fan | casual fan |
| Yes | 37% | 46% | 27% | 60% | 38% |
| no | 52% | 47% | 58% | 36% | 54% |
| Don’t know/no opinion | 11% | 7% | fifteen% | 4% | 8th% |
ABOUT THE SURVEY
The Seton Hall Sports Poll, which has been held regularly since 2006, is conducted by the Sharkey Institute within the Stillman School of Business. This survey was conducted online by YouGov Plc. using a national representative sample weighted by gender, age, race, education, income and geography, based on US Census Bureau figures. Respondents were selected from YouGov’s opt-in panel to be representative of all US residents. This poll release complies with the National Council on Public Polls’ Standards of Disclosure. The Seton Hall Sports Poll was selected for iPoll by Cornell’s Roper Center for Public Opinion Research and its results have been published everywhere from USA Today, ESPN, The New York Times, Washington Post, ` and Reuters to CNBC, NPR , Yahoo Finance, Fox News and many points in between.
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