Web3 is very mysterious to the French, unlike crypto-assets.

According to a study by ConsenSysonly 12% of French declare themselves familiar from Web3less than for the metaverse (20%) and NFT (15%). The notoriety from cryptos on the other hand, is more established.

A previous study by KPMG and Adan already highlighted the growing awareness of digital assets among the population. In 2023, 86% of French people will be familiar with at least one of the three assets – cryptocurrencies, NFTs and stablecoins.

Ethereum publisher ConsenSys has conducted its own survey with YouGov of 15,158 people worldwide, including a representative sample of 1007 French people. Among these, spontaneous awareness of crypto is as high as 90%.

A shared feeling about crypto

This figure does not, however, reflect knowledge of the assets involved and the associated technologies. For example, “48% admit they are not sure they understand all the ins and outs”. Among those surveyed, 20% say familiar of the metaverse, against 15% for NFT and 12% for the Web3.

As for French people’s feelings about the cryptoAccording to the survey. Respondents vacillate between various qualifiers such as alternative to traditional finance, speculation and scams.

These perceptions reflect the major brakes on entry into the crypto ecosystem, which are the perception of a volatile market (56%) followed by the fear of being scammed (46%),” analyze the authors, who also look at crypto asset ownership.

Bitcoin and Ethereum, France’s favorite tokens

In this field, two tokens come out on top in terms of popularity. Unsurprisingly, these are Bitcoin and Ethereum. “Bitcoin (50%) and Ethereum (36%) are the crypto-assets most favored by the French”.

The study estimates 23% the proportion of French people who have owned or currently hold crypto-assets. This is much higher than Adan’s estimate, for which holders represent 8% of the French population (plus 3% of former crypto investors).

When it comes to interest in these assets, several motivations are put forward. The main ones “are curiosityand the desire to diversify one’s investment portfolio”. There are also major disparities between countries.

Strong disparities in crypto asset ownership

58% of Nigerians, 50% of South Africans and 44% of Mexicans associate crypto-assets with the future of money. The gap between North and South is wide, as this rate is just 8% for the French – 15% of the British and 17% of Germans.

The gap is maintained when it comes to investment. “Nigeria (65%) and Argentina (56%) are the most motivated to own crypto-assets”. An interest driven by the instability of their local currencies.

In France, 1 in 5 French people say they are ready to invest in cryptocurrency over the next 12 months. For NFTs, 71% have never owned one.

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