Australian influencers reluctant to embrace Non-Fungible Token trend

Alexander Frolov, Chief Executive Officer at HypeAuditor

HypeAuditor, the AI analytics platform for brands seeking fair, transparent, and effective influencer marketing, released new data revealing the state of non-fungible tokens (NFTs) on Instagram following the announcement that it will start integrating NFTs from blockchains, like Ethereum, Solana, Flow and Polygon, testing digital collectibles with select creators in the US.

How do Aussie influencers compare to those in the US?

The report found that Aussie influencers and brands aren’t jumping on the NFT bandwagon as fast and as eagerly as its counterpart countries. Since January 2022, there have been a total of 717 social media posts on Instagram about NFT or mentioning NFT, reaching a cumulative audience of 1.5 million. Out of the 717 posts, less than 15% were sponsored posts

HypeAuditor found only 124 Instagram influencer accounts in Australia with the word NFT in their bios, all totalling over to 5.2 million followers. The US has 1900 NFT influencers. The top 3 categories for NFTs in Australia are Art (12.7%), Music (10.4%) and Photography (8.4%).

Alex Frolov, Chief Executive Officer and Co-Founder, HypeAuditor commented, “While it’s been reported that Australians have participated in the hyped-up market activity of trading NFTs, with many saying they’re using it as a way to save money for a house, compared to other countries like the United States, the uptake has been rather slow down under.”

“The slow trend might be an indication that Aussies are a bit more cautious when it comes to spending or investing in new sectors, and are more willing to take their time to understand the market before throwing themselves at it. The skyrocketing cost of living in Australia may also be another reason why Australians are more reluctant to gamble their savings on NFTs.”

What were the findings of HypeAuditor’s study?

Below are the key findings from the HypeAuditor report:

  • Since January 2022, a total of 281 influencers have posted about NFT and only 14% of the posts were sponsored by brands
  • People aged 18 – 34 are the ones engaging with the posts about NFTs the most

  • The influencers posting about NFTs the most are aged 25-34 yrs old 

  • NFTs are getting traction mostly from micro influencers with 10k-50k followers (44.1%) and nano influencers with 1k-10k followers (42.7%) 

  • Top 3 hashtags are #nft #nftart and #nftcommunity

  • Top 3 categories for NFT are Art (12.7%), Music (10.4%) and Photography (8.4%)

Who are the top influencers embracing NFT?

Australia’s Top 10 NFT Influencers with NFT in their bios are:

Name

Followers

Engagement Rate

Benjamin Lee

240.6K

1.01%

Erin McNaught

195.2K

0.67%

Ryan Papenhuyzen

164.4K

3.46%

𝙑alentine Holmes

163.9K

3.10%

Shannen Michaela

148.2K

3.75%

Jackson Caspersz

147.6K

1.67%

Woody Gooch

141.3K

0.72%

The Wolf of Eat Street

137.1K

0.21%

Journey of Curiosity 

75.3K

0.86%

NFT Artwork

67.3K

0.09%

“From the Top 10 NFT Aussie influencers, it’s worth noting that their engagement rate (ER) overall is also very low. A good Instagram ER is between 2-3% and anything above 3% is considered high engagement. From the list above, only three influencers have high ER which is another indicator that the interest in NFTs hasn’t peaked yet,” added Frolov.