China’s Bestselling Musician Jay Chou To Auction His Classic Songs As NFTs

Jay Chou, one of many best-selling musical artists in China, has introduced that he will probably be auctioning off one in all his traditional songs as an NFT. Chou additionally reveals that he has a number of NFT collaborations lined up for 2022. The artists’ earlier NFT undertaking, the PhantaBears just lately rose to first in international NFT gross sales rating on OpenSea, surpassing the favored Bored Apes Yacht Membership (BAYC).

China’s most well-known musician Jay Chou to launch a number of NFT initiatives by means of 2022

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Chinese language music legend, Jay Chou, introduced through Instagram that he can be auctioning off his traditional music DEMO as an NFT. The public sale will probably be carried out internationally by his report label, JVR Music Label.

The Taiwanese singer additionally provides that he’s engaged on a number of extra NFT initiatives alongside a brand new music album. One among these initiatives will see his very extremely profitable NFT undertaking, the PhantaBears, be launched in digital actuality (VR) format in line with his announcement.

The PhantaBears NFTs, which was launched on the primary of January, shortly rose in reputation as your entire assortment of 10,000 items bought out in just a few hours. Just a few days later, the buying and selling quantity of the gathering had reached 17,194.22 ETH (US$53.6 million), leaping 462.66% in every week. This positioned it above BAYC in international buying and selling quantity rating on OpenSea.

NFT Dominance rises in Asia whereas Cryptocurrencies take the again seat

The success of Chou’s NFT assortment isn’t a surprise because the Chinese language market has been exhibiting a powerful liking for digital property. The nation, whereas being hostile to cryptocurrencies, has demonstrated a comfortable spot for NFTs and plans to manage it individually. The Chinese language authorities will even be backing NFT growth in line with experiences.

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Different Asian nations together with the Philippines, Thailand, and Singapore are additionally adopting NFTs quickly. A report acknowledged that Southeast Asia noticed the very best international adoption of NFTs in 2021. Based on their information, the Philippines has probably the most NFT homeowners (32%) out of the 20 nations in contrast, adopted by Thailand (27%), Malaysia (24%), the UAE (23%), and Vietnam (17%).

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