In today’s digital age, non-fungible tokens (NFTs) are becoming increasingly popular among enthusiasts and investors alike. Recent data from Finder’s worldwide NFT Adoption Index shows a significant increase in NFT ownership across the globe, with Southeast Asian countries taking the lead.
Despite this rise in popularity, a recent survey revealed that a large percentage of people around the world are still unfamiliar with NFTs. If you’re among them, don’t worry – you’re not alone! Fortunately, Rikkei Finance is here to assist with a comprehensive article that explains everything you need to know about NFT adoption in different countries.
With our informative package of data, you’ll get an in-depth understanding of the current NFT landscape, learn about the countries that are leading the charge in NFT ownership and discover new insights that will help you navigate this exciting marketplace with ease.
Global Adoption of NFT
The world is buzzing about NFTs, but did you know that a significant portion of the population has never even heard of them? In fact, a shocking 66% of people worldwide are completely unaware of the existence of NFTs. Even in developed countries like Japan and the US, where access to technology is widespread, knowledge of NFTs is low, with 90% of Japanese people having no idea what digital assets are and around 70% of Americans having not heard of NFTs.
Interestingly, NFT adoption rates vary widely by region. Asian countries like the Philippines, Thailand, and Malaysia have much higher adoption rates than their European and North American counterparts. In the Philippines, for example, 32% of the population owns at least one NFT, driven in large part by the popularity of blockchain-based game Axie Infinity.
So why are adoption rates higher in some countries than others? Experts like Keegan Francis suggest that lower-income countries may be more open to NFTs because they offer a way to make money without the barriers to entry that traditional financial systems present. It’s a fascinating insight into how technology adoption can vary depending on a range of factors.
Gender Discrepancies all over the world
The available data on the current state of gender diversity in the NFT market worldwide indicates a worrying trend of male domination. The figures show that only two countries, Thailand and Venezuela, have been able to resist this trend. Interestingly, female NFT investors in these countries enjoy a slight advantage over their male counterparts, with a difference of 7% and 2% respectively.
However, despite these bright spots, the overall trend remains overwhelmingly dominated by men. In fact, the United Arab Emirates, one of the most active countries in the NFT market, has the highest gender gap rate, with 11% more male investors compared to their female counterparts. This gender imbalance in the NFT market raises the concern of whether it will continue to be sustained or could be addressed in the future.
The NFT market has been making headlines lately and many are curious as to whether it will surpass the cryptocurrency market in popularity and profitability. While there is no clear answer to this question, experts suggest that it is definitely a possibility. In fact, Tadas Maurukas, CEO at the Blockchain Centre, believes that there is a huge potential for early adopters of NFTs to make significant profits down the line once these digital assets become more mainstream.
Although the NFT market has seen substantial growth in popularity, it still remains relatively unknown to the majority of the population. However, this seems to be a blessing in disguise for investors, who view this as a prime opportunity to capitalize on the potential of NFTs before the market becomes flooded with newcomers. As such, it’s an exciting time for those who are already investing in or considering investing in NFTs, as the future looks very promising for this unique and innovative market.
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This means that you should not consider it as financial, investment, or trading advice. It is crucial that you conduct your own research and due diligence before making any investment decisions. We strongly recommend that you consult with a licensed financial professional before making any moves in the market.
Please note that you are fully responsible for any investment decisions you make based on the information provided. We do not assume any liability whatsoever for any losses that may arise from using the information. Therefore, it is important that you understand that you are using the information provided at your own risk.