PES UNIVERSITY

(Established under Karnataka Act No. 16 of 2013) 100-ft Ring Road, Bengaluru – 560 085, Karnataka, India

Business Analytics - Mini Project

“Study of Investors Awareness on Cryptocurrency and

NFT’s at PES University on Opensea”

Submitted by:

Shrikar P. Chalam

(PES1UG20BB117)

Jan to May 2022

Submitted to:

Dr. Savitha

Assistant Professor

Department of Management Studies

PES University

DECLARATION
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 I, Shrikar P. Chalam, hereby declare that the study report entitled,

‘Business Research Methods-Mini Project’ is an original work done by

Shrikar P. Chalam, under the guidance of Dr. Savitha, Assistant Professor,

Faculty of Management and Commerce, and is being submitted in partial fulfilment of the
requirements for completion of IV semester course work in the program of Study BBA at
PES UNIVERSITY

PLACE: Bangalore

DATE:

NAME: Shrikar P. Chalam

Signature of the Candidate:

ACKNOWLEDGEMENT

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I am extremely humble in expressing my gratitude to my university for granting
me this opportunity to do my project on understanding investors awareness. It has
given me immense exposure and has helped me understand the factors that are
behind an investor’s decisions and behaviour.

I would like to thank my internal guide, Assistant Professor Dr. R Savitha and
our Head of Department Prof. Priya Vaz, for supporting and guiding me
throughout this mini project.

Thanking You,

SHRIKAR P. CHALAM

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Table of Contents

Chapter Content Page No.

Chapter I 1.1 Introduction and

5-22
Industry Profile

1.2 Company Profile

2.1 Research
Methodology
Chapter II
23-38
2.2 Data Processing
and Analysis

Chapter III 3.1 Findings and 39-40

Suggestions

Chapter IV 4.1 Conclusion 41-43

Chapter V 5.1 Bibliography 44-45

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 CHAPTER I

Introduction, Industry and Company Profile

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 1.1: Introduction and Industry Profile
A NFT is an advanced testament (a "token") that remembers one as the proprietor
of a computerized record that has no equivalent to it (it is "non-fungible"). These
declarations are made ("printed") and sold on blockchain - a similar innovation
behind cryptographic forms of money. It additionally tracks exchanges to
forestall fake, with Ethereum being the most famous NFT blockchain. An NFT,
then, is destined to be exceptional: regardless of the number of computerized
duplicates there are - MP3, JPEG, and so on - there is only one "unique" record.
Basically, a NFT proprietor purchases possession freedoms.

The worldwide non-fungible tokens market was esteemed at $250 million out of
2020 and is assessed to appreciate with a roaring CAGR somewhere in the range
of 2021 and 2026.

Non-Fungible Tokens are effectively interchangeable and exclusively

extraordinary computerized resources which are hung on specific square chains,
fundamentally Ethereum yet additionally others like Matic, Flow, Wax, and
others. NFT exists in an advanced space as well as address any sort of actual
resource, going about as a sort of 'computerized twin' to anything existing in
reality and empowering the proprietorship and trade of actual belongings inside
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advanced commercial centres. Genuine proprietorship is one of the characterizing
key parts of any NFT and, as the computerized economies keep on flourishing,
there are high possibilities of NFT to assume a critical part in bringing the
advanced and actual universes more like each other than ever previously.

NON-FUNGIBLE TOKEN (NFT) MARKET REPORT COVERAGE

REPORT METRIC DETAILS

Market Size Available 2020 – 2026

Base Year 2020

Forecast Period 2021 – 2026

Segments Covered By Type, Market Type, Cryptocurrency Usage, and

Region

Revenue in 2020 USD 250 Million

Regions Covered North America, Europe, APAC, RoW

NBA Top Shot, Cryptopunks, Hashmasks, Sorare,

Market Leaders Profiled CryptoKitties, Decentraland, Rarible, OpenSea,
SuperRare, Ethereum Name Services, and Others

NFT is being thought of as fate of proprietorship by its clients. A wide range of

property - from occasion passes to houses - will ultimately have their possession
status tokenised as such. Having a responsibility for made content is assessed to

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drive the market. The primary driver for the development of NFT market is
computerized craftsmanship. NFTs assist the advanced specialists with achieving
possession for their computerized craftsmanship. They can get more pay through
NFTs, as they can get eminence each time the NFT is executed after the
underlying

deal. NFT collectibles market will increment significantly as fan commitment

will increment. For example, NBA's Top Shoot blockchain result of LeBron
James feature sold for $200,000. The Metaverse, virtual land, exchanging will
extensively increment during the conjecture time

frame. Gaming Industries are concocting imaginative development games, for

example, Strategy Role Playing Game, where the client can make a game person
and utilizing NFT can

get the responsibility for character which later can be placed up at a bargain on
different commercial centre (Rarible, OpenSea, and so forth.).

Sébastien Borget, prime supporter and COO of The Sandbox, remarked in a

meeting, "The quantity of potential use cases for NFT keeps on developing with
time, and perpetually inventive model show up consistently. NFT can truly
address any class of advanced resource. Regardless, there are a small bunch of
especially famous use cases, for example, in-game resources, exchanging
cards/collectibles, virtual land, area names and masterpiece."

Analysis of Market Segmentation

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Non-Fungible Tokens Market - By Type:

Computerized Art and Gaming NFTs will add to the most extreme portion of
NFTs exchanges. In Gaming all the more explicitly and up to this point, any in-
application buys or virtual money purchased in allowed to-mess around couldn't
be removed, re-utilized, exchanged, or utilized in alternate ways across games or
stages. All in all, they were transient consumable products. With NFTs, anything
purchased in the games will really have a place with proprietor. As purchased
resource will be enlisted on the client's name. Every resource is extraordinarily
recognizable, can have a provable predetermined number of duplicates and can
be moved between clients, without requesting the authorization from the
engineer. Far better, it can likewise be moved external the game, put available to
be purchased on a commercial center or even utilized inside another game, giving
additional utility and interactivity across different games.

Advanced craftsmanship is prompting new manifestations, which is opening the

entryways for additional individuals to become intrigued and engaged with the
workmanship world. The craftsmen in this space will proceed to enhance and
deliver work that will keep on pushing the limits of at present artistic expression.
Be that as it may, there's a disadvantage to this customary advanced
craftsmanship i.e., thing can be duplicated and reproduced limitless times at no
expense. To beat this downside computerized workmanship is presently placed
up on blockchain and is changed into a NFT to such an extent that is can't be
reproduced. This has offered the computerized craftsmen a chance to acquire

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through their works of art. Attributable to this reason it is assessed that advanced
craftsmanship will add to the extensive measure of worldwide non-fungible
market

Non-Fungible Tokens Market - By Market Type:

NFT market is segmented into two segments:

 Primary market/sale
 Secondary market/sale
Primary market/sale is determined by the first and original sale of an asset and
secondary market/sale is determined by the sale of the asset occurring after the
initial primary market sale. 

As of now, the advanced workmanship and sports portions adds to the most
extreme portion of the essential market. As computerized specialists are
becoming mindful of the Non-Fungible Tokens and the idea of responsibility for
advanced workmanship, they are putting their computerized craftsmanship
available to be purchased on different NFT commercial centres. Attributable to
this reason the essential market of advanced craftsmanship is assessed to develop
impressively during the estimate time frame. In the meantime, the optional
market will keep on leftover extremely restricted as work of advanced
workmanship is considered as a holding resource by the purchaser for getting
great ROI over the long haul. Sports fragment is quickly picking up speed as
sports ventures are understanding the capability of blockchain advances.
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Expanded chances to build the fan commitment, enamour supports and connect
with into the worldwide market. For example, in the midst of COVID-19
pandemic, in year 2020 Sorare; a dream round of soccer, where players purchase,
sell, exchange, and deal with a virtual group with advanced player cards; noticed
an offer of $5.7 million (US). The essential market of sports portion is noticing
an upsurge however before long the games section is assessed to arrive at a
development point and now the NFT market of sports will be driven by auxiliary
deals market.

The gaming section right now is in its full-grown state as more than 75 % of the
exchanges are made on the optional market. Yet at the same time the gaming
market actually has critical development potential. The collectibles portion has
additionally arrived at its development state, yet not at all like gaming fragment
the collectibles section tokens are given fundamentally on the essential market
i.e., around 70% of the all-out collectible's deal and exchange on optional market
is generally not many.

Non-Fungible Tokens Market - By Cryptocurrency Usage

Every one of the exchanges on different NFT commercial centres, blockchain

gaming stages are finished utilizing different digital forms of money. Ethereum
(ETH) is generally widely utilized for exchanging NFTs. For example; Sorare, F1
Delta; NBA Top shot utilizes ETH cryptographic money. New digital forms of

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money will be presented during the gauge time frame as it is viewed as a
protected of managing exchanges.

Digital currencies are utilized for NFT exchanges since it is a fake resistant
exchange and every one of the exchanges are transferred on a public record. This
record guarantees that every one of the exchanges between the "advanced wallet"
can compute an exact equilibrium. This large number of exchanges are checked
by the digital money supplier to ensure that the coins utilized are possessed by
the high-roller. This guarantee got computerized exchange encryption and
"brilliant agreements" that makes the element practically unhackable and drained
of extortion.

Regional Analysis

Non-fungible symbolic market has kept on building up forward movement in the

U.S., as brands like Gucci have carried out advanced just shoes and craftsmen
like Beeple have established standards via extravagant sold works of art. The
NBA banded together with Canadian-based Dapper Labs, producers of the
CryptoKitties game, to make its rendition of a collectible computerized resource.
NBA Top Shot is a crypto-collectible customers can buy as a non-fungible token
(NFT).

In Europe, France is humming with NFT new companies in the midst of this
pandemic. In March 2021, NFT start-up Arianne, which guarantees responsibility

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for extravagance products, brought €9m up in VC. That came only fourteen days
after NFT-based dream football stage Sorare raised a €40m round of VC drove
by International A-rundown financial backers like Benchmark and Accel.

In Asia, Indian organization WazirX, the nation's Bitcoin and cryptographic

money trade and exchanging stage, reported that it will send off a non-fungible
tokens (NFT) commercial centre for Indian specialists and makers for the sale of
their advanced resources and procure sovereignties. NFTs are turning into a
pattern in China yet the Chinese workmanship market has an incredibly
unfortunate comprehension of crypto craftsmanship, and Chinese NFT specialists
have a great deal of catchup work to do contrasted with its western partners.
Also,

additionally, the effect of Chinese guidelines, which are especially tough with
regards to the crypto space.

Impact of COVID-19 on the Global Non-Fungible Tokens Market

The Covid-19 pandemic has constrained populaces into a more inactive way of
life because of summed up lock-downs across the world. These populaces, of any
age and of all starting points, have needed to observe options for social
collaboration whose control had denied them. In this way, these clients turned out
to be essential for different web-based Metaverses stage to increment social
communication and to get openness of NFTs. For example, AxieInfinity, an
advanced pet universe on blockchain, has drawn in a huge number of rookies to
blockchain innovation from emerging nations who were searching for new
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revenue streams during the Covid pandemic. As per NonFungible.com; in 2020
the NFT market became by 299% when contrasted with 2019.

1.2: Company Profile

In 2017 the world saw the introduction of CryptoKitties. Interestingly, the world
encountered a decentralized application based on blockchains yet targeted
towards a standard crowd.

While CryptoKitties felt like a toy to many, it addressed a sensational change by

the way they cooperate with things in the computerized world. While past
advanced things lived on organization servers, blockchain-local things lived on
shared, public blockchains claimed by no single party. They could be seen
anyplace, traded straightforwardly, and genuinely possessed in a way that was
rarely before conceivable in the computerized world.

Interested by the development that was shaping, Devin Finzer and Alex Atallah
joined early adopter networks in Discord and began conversing with clients. With
the OpenSea beta send off in December 2017, the principal open commercial
center for any non-fungible token on the Ethereum blockchain was conceived.

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As an organization, they’re excited to be at the focal point of this developing
industry, and will keep on putting resources into our center foundation as we
assemble the most available commercial center for purchasers, dealers, and
makers. OpenSea is an American internet based non-fungible token (NFT)
commercial centre settled in New York City. The organization was established by
Devin Finzer and Alex Atallah in 2017.OpenSea offers a commercial centre
taking into account non-fungible tokens to be sold straightforwardly at a decent
cost, or through a bartering, in view of the Ethereum ERC-721 norm and the
layer-2 scaling answer for Ethereum Polygon.In 2021, following an uplifted
interest in non-fungible tokens, the organization's income came to $95 million in
February 2021 and $2.75 billion in September of that year. By January 2022, the
organization had been esteemed at $13.3 billion and has been viewed as the
prevailing non-fungible symbolic commercial centre.

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P a g e 16 |
History

OpenSea brought $2.1 million up in funding (counting from Animoca Brands) in

November 2019.

In December 2020, OpenSea reported that any client can mint NFTs on its
foundation free of charge. Afterward, in March 2021, OpenSea reported NFT
assortments would never again require OpenSea's past endorsement to be
recorded. This choice was subsequently condemned for permitting widespread
NFT copyright infringement on the platform.

On September 17, 2021, OpenSea delivered an application for Android and iOS.
The application takes into consideration perusing the commercial centre, yet not
trading NFTs.That very month, OpenSea conceded that a representative occupied
with insider exchanging. OpenSea's Head of Product accumulated NFTs not long
before they were highlighted in the homepage.

In January 2022, Twitter declared that it would utilize OpenSea's API to allow
individuals to make hexagonal moulded profile photos of their NFTs.That month,
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OpenSea obtained Ethereum wallet-producer Dharma Labs, and OpenSea repaid
clients about $1.8 million after a UI bug permitted clients to purchase more than
$1 million worth of NFTs at a discount.

On January 27, 2022, OpenSea reported it would restrict the number of NFTs a
client can make utilizing the free printing tool. The next day, OpenSea switched
the choice following client kickback and later conceded that 80% of NFTs made
with the device were literary theft or spam.

On February 19, 2022, a few clients started to report that a portion of their NFTs
vanished. OpenSea later uncovered a phishing assault had occurred on its
foundation through an adventure in the Wyvern Platform. The organization
denied bits of hearsay the wellspring of

the robbery was their site, its posting frameworks, messages from the
organization, or an updated agreement system. On February 20, 2022, news
announcing asserted that $1.7 million in NFTs had been taken in the phishing
attack.

In March 2022, OpenSea reported that it would hinder accounts subject to United
States sanctions.

In April 2022, OpenSea empowered clients to trade famous Solana NFTs on

OpenSea's Solana beta. This component was reported back in November 2021.

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On April 25, 2022, OpenSea declared to get the NFT commercial centre
aggregator organization Gem.xyz.

Funding

Date Amount From Notes

($ in Millions)

2018 - Y combinator Pre-seed round

November 2019 2.1 Multiple Sources -

March 2021 23 Andreessen Series A

Horowitz

July 2021 100 Andreessen Series B; valued

Horowitz at $1.5 billion

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 January 2022 300 Paradigm Valuation at
and Coatue $13.3 billion
Management

OpenSea has raised an aggregate of $427.2M in subsidizing north of 9 rounds.

Their most recent subsidizing was raised on Jan 5, 2022 from a Series C round.

OpenSea is supported by 49 financial backers. Kathryn Haun and Coatue are the
latest financial backers.

OpenSea has put resources into 0x on Apr 26, 2022. This speculation - Series B

was esteemed at $70M.

OpenSea has procured 3 associations. Their latest obtaining was gem.xyz on Apr
24, 2022.

In the mid of February, 2022, The Verge announced that many NFTs were taken
from OpenSea clients causing an enormous frenzy among the stage community.
[22] The assessed worth of the taken tokens is more than $1.7 million. As
indicated by OpenSea, just 32 clients had been impacted. The stage's weakness
suggests a more profound conversation starter relating the security framework of
the current NFT biological system. Revenue of Opensea is $10.1 Million

People

 Alex Atallah (Co-Founder and CTO)

 Devin Finzer (Co-Founder and CEO)
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 Dylan Field (Investor)
 Nadav Hollander (CTO)

Opensea Top Competitors

 Bitski: Revenue of $4 Million

 Wax: Revenue of $7 Million
 Portion: Revenue of $6.2 Million
 Bitcoin India: Revenue of $6.9 Million

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 CHAPTER II

Research Methodology, Data Processing and

Analysis

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 2.1: Research Methodology
Descriptive research was performed to gain the knowledge of the 51 respondents
on the topic “Investors awareness on Cryptocurrencies and NFT’s”. A survey was
released in PES University with reference to the NFT trading and marketplace,
Opensea. The questions in this survey helped me analyze the investors awareness
about cryptocurrencies and NFT’s. The survey consists of 10 questions relating to
the topic “Investors awareness on Cryptocurrencies and NFT’s”. The target
audience were people who had at least a little knowledge about cryptocurrencies
and NFT’s so that I could get a detailed idea about what people think about
cryptocurrencies and NFT’s. There were no constraints based on gender or age.
Those factors were purely randomly picked. A literature review is conducted to
realise the need for adoption of Cryptocurrency and NFT’s. The goal is to review
the existing literature on the cryptocurrency adoption, examine the realised
adoption level, and try to classify and give an in-depth analysis of the factors
influencing the decision for adoption of cryptocurrency and NFT’s. These 51
respondents were asked 10 questions based on their knowledge and what they
think is important for the adoption of cryptocurrency as a typical payment option
in the future.

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 2.2: Data Processing and Analysis
2.2.1: Demographic Profile

  N % CUL.%

Gender

Male 36 29.4% 29.4

Female 15 70.6% 100

Total 51 100%  

Age Group

18-24 34 66.7% 66.7

25-40 2 3.9% 70.6

41-60 13 25.5% 96.1

60 and above 2 3.9% 100

Total 51 100%  

Field of Work

IT 2 3.9216%

Business 0 0%

Finance 0 0%

Sales 1 1.9608%

Student 24 47.0588%

Software 4  5.8823%

Computers 1 1.9608%

others 19 37.2549%

Total 51 100%  

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Gender Profile

The above pie chart shows the number of males and females from the sample size
of 51. The pie chart shows that the concentration of males in the sample size is
more than the concentration of females. It implies that 70.6% of the sample size
are male (36/51) and 29.4% of the sample size are female (15/51). This shows
that more males are might have more knowledge about cryptocurrency and
NFT’s compared to females.

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Age Profile

The pie chart shows the different age groups the respondents are in. 66.7% of the
respondents are in the age group of 18-24 (34/51). 3.9% of the respondents are in
the age group of 25-40 (2/51). 25.5% of the respondents are in the age group of
41-60 (13/51). 3.9% of the respondents are the age group of 60 and above (2/51).
This distribution shows that most of the respondents are in the age group of 18-
24. This shows that people who are in the age group of 18-24 are more interested
to get into cryptocurrency and NFT’s than other age groups. This might reveal
that other age groups would want to stick to the safer and less volatile
conventional stock market.

2.2.2: Experience of Cryptocurrency and NFT’s

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Experience of Cryptocurrencies and NFT's

  N % CUL %

Highly Experienced 3 6% 6%

Experienced 2 4% 10%

Moderately Experienced 9 17.60% 27.60%

Less Experienced 13 25.50% 53%

No Experience 24 47% 100%

Total 51 100%  

Would you get involved with crypto and NFT's in the future?

YES 39 76.50% 76.50%

NO 12 23.50% 100%

Total 51 100%  

If Yes, Why?

Good investment 7 17.94871795 9.677419355

NFT's 3 7.692307692 17.36972705

Blockchain Tech 4 10.25641026 27.6261373

Money Making 2 5.128205128 32.75434243

Future Currency Option 6 15.38461538 48.13895782

Others 17 43.58974359 91.72870141

Total 39 100  

If No, Why?

Risk 4 33.33333333 33.33333333

Legality 1 8.333333333 41.66666667

Fluid Market 1 8.333333333 50

Not Interested 3 25 75

Others 3 25 100

Total 12 100  
Experience Level

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This bar chart shows the experience level with cryptocurrencies and NFT’s of the
respondents. Out of 51 respondents, 5.9% (3/51) of the respondents were highly
experienced with crypto and NFT’s. 3.9% (2/51) of the respondents were
experienced with crypto and NFT’s. 17.6% (9/15) of the respondents were
moderately experienced with crypto and NFT’s. 25.5% (13/51) of the
respondents were less experienced with crypto and NFT’s. 47.1% (24/51) of the
respondents were not at all experienced with crypto and NFT’s. This shows that
majority of the respondents have not heard of or have no idea what crypto is or
have no idea how to use it. It shows that many people have the interest in crypto
but they do not have any medium of learning what its about.

Involvement of Crypto and NFT’s

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This pie chart shows the involvement of the respondents. It shows if the
respondents are willing to get involved in crypto trading in the future or if they
are involved in it right now. Out of 51 respondents 76.5% (39/51) of them are
willing to or already involved in crypto trading and NFT buying. 23.5% (12/51)
of the respondents do not want to get involved in crypto trading or using these
cryptocurrencies for trading and buying of NFT’s. This shows that the craze for
crypto is high and people want to get involved in it as it is a great way to make a
good passive income and it also a great way to invest in and gain more money for
your future.

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The reasons given by our respondents for getting involved or wanting to get
involved in cryptocurrencies and NFT’s are as follows:

 17.9% of our respondents think that cryptocurrency is a good investment

and it could help them build their portfolio.
 7.6% of the respondents think that they can buy crypto and use them to buy
NFT’s which could gain a lot of revenue later on for the user.
 10.2% of our respondents think the technology that crypto is built in,
Blockchain, is very secure and it cannot be traced and scams could be
reduced.
 5.1% of the respondents think that it is a great way to make money out
trading and exchanging of NFT’s and Cryptocurrency.
 15.3% of the respondents think that cryptocurrency could a future currency
option which could used virtually all over the world without any restrictions
as all transactions will be recorded in the blockchain.
 43.5% of our respondents gave other reasons.

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The reasons given by our respondents as to why they do not want to get
involved in trading cryptocurrency and NFT’s are as follows:

 33.3% of the respondents said the risk is too high to invest in crypto as the
market is too volatile and the market is very risky. According to our
respondents they think that there is no way of telling when the market will
crash or boom.
 8.3% of our respondents said that they are reluctant to invest in crypto as
they do not know if there are any legal reforms involved in the trading of
crypto and NFT’s.
 8.3% of the respondents think that the market is too volatile and has no way
of telling when the market will crash. Therefore, are reluctant to invest in
crypto and NFT’s.
 25% of the respondents are not even interested to invest in the
cryptocurrency market as they do not trust it and also, they already invest in
the stock market so they do not want to risk anymore money on the crypto
market.
 25% of the respondents gave other reasons.

2.2.3: Factors Affecting Usage of Cryptography

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Education about Crypto and NFT’s

This bar chart shows the number of respondents think if education about crypto
and NFT’s is important or not. 5.9% of the respondents said that education about
crypto is not important. 2% of the respondents said that education about crypto is
less important. 13.7% of the respondents said that education about crypto is
moderately important. 21.6% of the respondents said that education about crypto
is important. 56.9% of the respondents said that education about crypto is very
important. This shows that very few people have a good amount of knowledge
about trading and buying of cryptocurrencies and NFT’s.

Retail websites accepting crypto and NFT’s as Payment

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This bar chart shows how important is it to our respondents if retail websites
accept crypto and NFT’s as a payment option in the future. 15.7% of the
respondents said that accepting payment with crypto and NFT’s is not important.
5.9% of the respondents said that accepting payment with crypto and NFT’s is
less important. 27.5% of our respondents said that accepting payment with crypto
and NFT’s is moderately important. 27.5% of our respondents said that accepting
payment with crypto and NFT’s is important. 23.5% of our respondents said that
accepting payment with crypto and NFT’s is very important. This shows that
people think that crypto could become a universal currency which can be traded
for anything without any restrictions and payment frauds.

Anti-Theft Systems for storage of crypto and NFT's

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This bar chart shows if the respondents think that Anti-Theft Systems are
important for storage of NFT’s and Crypto or not. 11.8% of the respondents said
that Anti-Theft systems are not important. 3.9% of the respondents said that it is
moderately important to have an anti-theft system for crypto. 15.7% of
respondents said that is important to have anti-theft systems for crypto and
NFT’s. 68.6% of the respondents think Anti-theft systems are very important to
safe guard the NFT’s and cryptocurrencies. This shows that high frequency of
people think that it is important to have a proper application or a safe haven to
store and keep track of your crypto investments and NFT’s.

Stable Crypto Prices

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This bar chart shows how important it is to respondents of the prices of crypto are
stable or not. 7.8% of the respondents said that it is not important to have stable
crypto prices. 7.8% of the respondents said that it is less important to have stable
crypto prices. 19.6% of our respondents think that stable crypto prices are
moderately important. 25.5% of the respondents think it is important to have
stable crypto prices. 39.2% of the respondents think it is very important to have
stable crypto prices. This data shows that it is important for the investors to have
stable crypto prices as to attract more investors to invest into the crypto market.

Faster Transactions

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The above bar chart shows the importance of faster transaction for the
respondents.

7.8% of the respondents think that faster transaction process is not important.
11,8% of the respondents think it is less important to have faster transaction
process. 9.8% of the respondents think it is moderately important to have a faster
transaction process. 25.5% of the respondents think it is important to have a
faster transaction process. 45.1% of the respondents think it is very important to
have a faster transaction process for the transfer of currency faster without any
restrictions or conversion rates.

P a g e 36 |
When asked if Cryptocurrency and NFT’s are going to be a typical payment
option in the future, these are the results of this question:

This pie chart shows the answers of the respondents when asked “Do you think
that crypto and NFT’s are going to be a typical payment option in the future?”
45.1% of the respondents think that cryptocurrency and NFT’s will be a typical
payment option in the future. 9.8% of the respondents don’t think that
cryptocurrency and NFT’s will be a typical payment option in the future. 45.1%
of the respondents are unsure about the outcome whether Cryptocurrency and
NFT’s will be a typical payment option in the future.

P a g e 37 |
 CHAPTER III

Findings and Suggestion

Findings & Suggestions

From this research I found that:

 Education about cryptocurrencies and NFT’s is a must provide as many

people are still unaware about how crypto and NFT’s work.

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 A regulatory body should be made for crypto transactions as of now crypto
transactions are not taxed which could cause people to exploit the volatility
of the crypto market.
 The volatility of the market has to be controlled as people could go
bankrupt due sudden dips in the market which could cause global level
financial problems.
 I would suggest keeping multiple wallets so that you can keep your
cryptocurrencies and NFT’s safe and prevent frauds by hacker’s and fraud
masters

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CHAPTER IV

Conclusion

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Conclusion
From the research done, we can say that cryptocurrencies and NFT’s are picking
up in India and will soon be a vital payment option for individuals and firms to
use and accept as payment. The blockchain technology which the
cryptocurrencies work on is a very secure network which cannot be hacked that
easily, this shows that cryptocurrencies can replace banks and prevent bank
frauds. This will help with secure transactions between two parties, Also,
cryptocurrencies are a great way to make a good amount of passive income. This
will open better job opportunities to work in metaverse companies with the
introduction of NFT’s into the mix it gives a better investment option for real
estate investors to invest in virtual land i.e., land available in the metaverse.

From this research, we can tell that people need to be educated about the
cryptocurrencies and the metaverse so that they can use their NFT’s for good
reasons and make a good amount of passive income from each NFT. With
regards of crypto being a future payment option, according to my findings
relating to the respondent’s answers, I think that crypto and NFT’s are already
being used for payments across companies and individuals. For example, Elon
Musk of Tesla said he would be willing to sell his cars in exchange for bitcoins

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CHAPTER V

Bibliography

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Bibliography
https://pdxscholar.library.pdx.edu/cgi/viewcontent.cgi?article=1219&context=etm_fac

https://opensea.io/about

https://golden.com/wiki/OpenSea-XKEJJ93#People

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