NFT investing in Hong Kong: which platforms are most trusted & what factors do investors consider?

In our earlier article, we explored the demographic profile of Hong Kong residents who intend to invest in NFTs in the coming year, as well as the factors driving investors to invest or not to invest in NFTs so far.

But what do NFT-interested investors in Hong Kong think about the variety of NFT trading platforms available today? Which would they most trust with their money, and what are the main factors that they consider when selecting trading platforms?

What do NFT investors in Hong Kong look out for when choosing trading platforms?

Latest RealTime Omnibus research by YouGov reveals that, when choosing NFT trading platforms, good security is the most common consideration of Hong Kong residents who intend to make financial investments in the next 12 months – with close to five in seven (69%) saying this is a relevant quality.

The next most common considerations are low trading costs (61%) and the availability of specific NFT products on these platforms (55%). Around half also look out for automated trading capabilities (52%), a user-friendly interface (51%) and whether trading platforms offer analysis tools (51%).

About two in five also say that stable connectivity (42%) and well-known brand (39%) are relevant considerations when choosing an NFT trading platform.

When asked to select the most important consideration when choosing NFT trading platforms, good security remained the top factor (37%), with over one in three saying so.

Around one in six say that low trading costs (16%) are the most important consideration, while just over one in ten pointed to the availability of specific NFT products on these platforms (11%).

Which NFT trading platforms do Hong Kong investors most trust, and are most likely to use?

When asked to judge the trustworthiness of various NFT trading platforms currently available, Binance emerged as the most trusted platform (31%). Net trust for each platform was calculated as the difference in percentages of Hong Kong investors who say a platform is very/quite trustworthy and very/quite untrustworthy.

OpenSea (29%), Metamask (26%) and Artzioneer (21%) are the next three platforms with the highest net trust – where the percentage of Hong Kong investors who trust the platform leads the percentage of investors who don’t by more than twenty points.

Meanwhile, investors are divided about the trustworthiness of Jingtan/Topnod (0%) while the percentage of investors who trust Lingxi (-12%) trails those who don’t by over 10 points.

Data from YouGov RealTime Omnibus also shows that when Hong Kong investors were asked to select the platform they are most likely to trade NFTs in – Binance (21%) and OpenSea (20%) emerged as the top choice of some one in five.

Other major platforms are the top choice of less than one in ten Hong Kong investors. Notably, both Artzioneer and Lingxi are the top NFT platform choice for only 3% of investors, despite the former having a net trust score of 21% and the latter -12%.

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Methodology: YouGov RealTime Omnibus provides quick survey results from nationally representative or targeted audiences in multiple markets. This study was conducted online from 8 September to 4 October 2022, with an online representative sample of 2,307 adults in Hong Kong (aged 16+ years), using a questionnaire designed by YouGov. Data figures have been weighted by age and gender to be representative of the adult online population in Hong Kong (16 years or older), and reflect the latest Hong Kong Census and Statistics Department (C&SD) population estimates. Learn more about YouGov RealTime Omnibus.