Doge vs. NFT: where does Generation Z put their money?

Generation Z members absorbed the internet with their breast milk. Is the lively consumption of Reddit, Twitter and Co. reflected in your investment preferences?

Almost a quarter of Generation Z investors may put their money in Dogecoin. This is what a survey of the betting app wants Gambler spick, which attests to the age groups from 1997 onwards a disproportionately high affinity for meme investments.

Gamblerspick carried out a survey among (potential) investors back in April. Generation Z, millennials (born 1981 to 1996), Generation X (1965 to 1980) and baby boomers (1946 to 1964) each accounted for a quarter of those surveyed. The focus was on the younger generation’s investment behavior.

Doge beats NFT

In principle, Generation Z stood out in the survey due to their high willingness to invest. 28 percent of them stated that they were constantly investing their money. That is at least 10 percent more than the overall average, although the willingness to invest generally declines with age. The Zer are also the front runners when it comes to infrequent investments (19 percent), after all not everyone can afford an investment at a young age.

Meanwhile, the question of the investment product of choice is more interesting. Unsurprisingly, stocks continue to enjoy great popularity among all vintages. With over 70 percent, they are particularly popular with millennials and Generation X, while just over half of Generation Z stated that they invest in equity products.

The boys, on the other hand, are very interested in meme investments (23 percent), such as the Dogecoin hyped by Elon Musk and comparable internet phenomena. NFTs were once in the media spotlight, but according to the survey, they are now attracting little interest from Generation Z. Only 9 percent said they would spend money on the digital collectibles. This value decreases even further in the older cohorts.

Conventional collectibles are also not very popular with Generation Z and Millennials (13 and 12 percent). The only exception to this is investments in clothing and especially sneakers, which are particularly popular with Generation Z.

The questions about the motivation for an investment are also interesting. Unsurprisingly, Generation Z in particular is heavily inspired by social media in their investment decisions. Most important are posts on Reddit (40 percent) and YouTube (38 percent). Older generations, on the other hand, still turn to conventional news sources or television for investment tips. Advice from family and friends is highly relevant for all age groups (an average of 34 percent).

The younger ones also stated particularly often that they invested for social reasons. According to this, 28 percent of those surveyed from Generation Z invest in order to be part of something bigger. The fight against financial institutions that are perceived as overpowering is also an important factor for zer and millennials (22 percent each) – so greetings from Gamestop and Dogecoin.