Non-Fungible Token (NFT) Trends in Korea, China, Russia, and Japan

Non-Fungible Token (NFT) Trends in Korea, China, Russia, and Japan
  • A recent survey about the crypto market trends in China, Japan, Korea and Russia. 
  • In China both NFT products and NFT blockchains seem to be popular. 
  • Over 66% of all respondents replied that NFT is a bubble.

Japanese consulting group FEB Inc recently made an investigation about the crypto market trends in China, Japan, Korea and Russia. However, the research includes Non-Fungible Token (NFT), crypto exchanges, media, influencers, and researchers.

NFT Products and NFT Blockchain

Non-fungible tokens are unique, identifiable crypto assets whose exchange between the creator and the buyer. However, through the financial transaction of a digital currency such as Ethereum, it is logged for anyone to view.

Popularity of NFT Blockchains in Each Countries 
Popularity of NFT Products in Each Countries 

In the survey question about the popularity of NFT products and NFT blockchains, it is found that there are trend differences in each country. Notably, in China both NFT products and NFT blockchains seem to be popular. However, Japan and South Korea are the next most famous countries. Russia shows less interest in NFTs.

Surging NFT Interest

From four survey areas like NFT, DeFi, Stablecoin, and ICO, 34.8% respondents chose NFT. Added to this , 47.8% chose DeFi, and 17.4% chose ICOs. None of the respondents selected Stablecoin or Security Token.

Even more, the popular NFT blockchain was Ethereum with 84.2%.  More so, this is followed by Ethereum in China, Chiliz in Korea, Enjin and Flow in Japan, and Theta and Flow in Russia.

However, the regional nature of the popular NFT products is NBA Topshot which is popular in China, followed by CryptoKitties, Axie Infinity, Topps MLB,  and MyCryptoHeros. In Japan, NBA Topshot and MyCryptoHeros are the most popular. Added to this, CryptoKitties, Sorare and F1 Delta Time. 

CryptoKitties is the most popular in Korea, followed by NBA Topshot and MyCryptoHeros. In Russia, the responses are mixed, but CryptoKitties are the most popular, followed by CryptoPunks. Interestingly, the NFT marketplace was the most popular with Opensea which accounts for 61.8% of all responses. 

NFT is a Bubble

Over 66% of all respondents replied that NFT is a bubble. Notably, in China, half of the total respondents replied that NFT is a bubble. This confirms that China is currently interested in NFT.

Furthermore, the ever-growing adoption of NFT into the crypto space indicates the bright future for the new crypto-tech revolutions. 

Recommended for You

Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.