26% of crypto investors in Japan tried out NFTs: Survey

No less than one out of 4 cryptocurrency traders in Japan had an expertise of holding nonfungible tokens (NFTs), in accordance with a brand new survey.

Main Japanese crypto alternate BitBank carried out an internet survey diving into the NFT funding developments within the Japanese cryptocurrency market.

Releasing the survey outcomes on Nov. 25, BitBank stated that it polled 2,061 cryptocurrency customers inside a interval from Oct. 26 to Nov. 1, 2021. The respondents included purchasers of BitBank in addition to crypto holders polled randomly by way of Twitter, a spokesperson for the agency informed Cointelegraph.

The survey outcomes recommend that as many as 26% of Japanese crypto traders have tried out holding NFTs thus far, with a majority of NFT traders being represented by youthful generations aged between 20 and 40.

For many respondents, the principle motive for holding NFTs is just like investing in cryptocurrencies like Bitcoin (BTC), which is to maintain them in the long run. Based on BitBank, as many as 60% of respondents stated that they see their NFTs as a long-term funding.

Based on survey outcomes, 39% of the survey’s NFT holders indicated that they’ve by no means bought their NFTs and aren’t certain of their worth, whereas greater than 22% of respondents haven’t bought their NFTs however have been conscious of their worth. One other 19% of respondents stated that they benefited from promoting NFTs.

The report additionally notes that artwork has remained the principle theme for NFTs within the Japanese crypto market, adopted by video games, metaverse, leisure and sports activities.

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Associated: Asia-Pacific leads the world in NFT searches on Google

The NFT business has been rising more and more well-liked in Japan, with the native crypto alternate Coincheck launching its personal NFT market in March 2021.

As Japan is globally famend for its influential popular culture, together with anime and manga, many believe that the nation has nice potential to drive the NFT motion ahead. Earlier this 12 months, early crypto evangelist, Mai Fujimoto, also referred to as Miss Bitcoin, partnered with blockchain gaming ecosystem Enjin to launch an NFT charity venture in Japan.

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