The notoriety from digital assets is clearly increasing in France over one year, in particular with regard to NFTaccording to the study KPMG & ADAN. The French would also be less reluctant towards the detention from crypto.
Pensions are a hot topic, especially for the head of state, heckled during his travels. According to the Observatoire de l’épargne et de la retraite, more than 6 out of 10 French people are worried about their standard of living.
So they are saving in anticipation of their retirement, including 15% who do not rule out incorporating crypto into their portfolio. A surprise? Not necessarily, given the significant increase in awareness of this new asset class, as measured by the 2023 study by KPMG and ADAN.
Cryptocurrencies, NFT, stablecoins identified by 86% of French
In 2023, 86% of French people 18 years and older know at least one of the three assets that are cryptocurrencies (81%), the NFT (51%) and the stablecoins (23%). A year earlier, this share was 76%. The crypto news of 2022 has largely contributed to this notoriety, but not always to generate trust.
But it is for NFTs that the progression is the most significant, since spontaneous awareness of these tokens jumps in one year from 15% à 39% according to the survey.
The launch of Web3 initiatives by mass-market retailers is part of this acculturation trend. The recent announcement of Picard around a dedicated campaign is an illustration.
CBDC and DeFi: the great mystery persists
The themes of the central bank digital currencies and decentralized finance, on the other hand, are still rather nebulous for the population. Knowledge of the two topics “remains roughly equivalent to that of 2022, with 25% and 22% of French people respectively declaring to know these terms”.
If the notoriety is important, it is because it is a gateway to investment. How many French people have crossed this threshold? For ADAN, which represents companies in the crypto industry, this rate is crucial, for economic reasons and also for influence with the political sphere.
The study measures that since 2013, 13% of French people over the age of 18 have owned at least one digital asset among the 3 categories listed. Currently, they would be 8% to hold cryptomoney.
All tokens combined, this share in 2023 rises to 9,3% of the French. This would therefore mean “an increase of more than 18% in the number of holders compared to 2022”.
Potential crypto investors are backing off
Extrapolating to the entire French population, the association and KPMG estimate that about 4.8 million French people over the age of 18 could hold crypto-assets.
However, predictions for 2022 suggested that the proportion of French crypto holders would reach 12%. Moreover, intentionalists, i.e. potential buyers, are down over a year.
“This decline in respondents intending to invest can be explained by the tumultuous news in the sector over 2022,” the authors argue. However, interest in stock market investing is also declining, they continue.
Early 2023: bringing growth and innovation
This small decline is therefore shared across asset classes, especially since crypto asset buyers are often also equity holders.”
The Association for the Development of Digital Assets (ADAN) therefore maintains an optimistic tone, calling 2022 a “major turning point” for the industry Web3.
This beginning of 2023, bringing continued growth and innovation in the crypto-asset markets, confirms the potential of this ever-evolving sector,” adds its president, Faustine Fleuret.
The current market environment no doubt makes this optimism more audible with rising prices and increasing tokenization projects.
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