As a preamble, I suggest you read or re-read the guide I put together last year: How to talk about NFTs at Christmas dinner. This means that the church 3.0 can be placed in the middle of the village again.
Which part of the world saw the greatest adoption of NFTs in 2022? North America ? Europe? Well no, adoption was explosive in Asia. India dominates the ranking with 7% of the population owning an NFT, closely followed by Vietnam at 6%. The first old continent country to emerge is Ireland, where 3% of the population say they have an NFT.
The survey was developed by finder and conducted by Google in all territories except Australia where survey is conducted by Qualtrics/SAP. The survey received 272,257 responses in three months between July and September 2022. Respondents are internet, smartphone and Google AdMob users or Qualtrics research panel participants. Sample sizes range from 1,000 to 2,500 people and are directly proportional to population size.
The high percentage in some countries is probably caused by NFT video games, metaverse or online games where people can earn money by playing NFT generating games. Results may be skewed by people who answered yes because they make money from these games but may not own NFTs. It needs a little explanation.
Southeast Asian countries such as Thailand and the Philippines have emerged as global hubs for Play to Earn Games (play to win). One of the largest play-to-earn (P2E) networks, Yield Guild Games, claimed to have 10,000 players in the game of Axie Infinity (originally from Vietnam) in the fourth quarter of 2021, and the players kept 70% of their earnings and had received a total of $11.7 million during the year. In reality, a large majority of play-to-earn game users participate as “renters” and generate revenue without owning the assets, while a minority of users own assets. Yes, because a large proportion of P2E games require purchasing an NFT to start playing. And often, purchasing these NFTs represents a significant financial outlay (sometimes hundreds of dollars). So one user buys the NFT, another uses it to generate some in-game value, and the two share the revenue. In other words, the players get paid, but it’s the investor-owner who actually owns the NFT. For these reasons, data may be skewed for users who claim to own NFTs when in fact they are just “renters”.
The global average for NFT ownership is around 3%. However, as stated the study conducted by Nansen, the majority of the world population still does not know what an NFT is. Almost 80% of people in the UK don’t know what an NFT is when asked, and 70% in the US don’t know either. Still, those claiming knowledge would need to be asked to explain in their own words what an NFT is in order to really determine these percentages. In France,According to an Ipsos.Digital study conducted from 17th to 19th June 2022, only 1 in 5 French people (20%) think they know what NFTs are, at the same time the study shows that 56% have never heard of them to have .
Now it’s your turn. With the foie gras toasts down and the champagne flowing, it’s time to launch an anthology quiz on the subject. Who can define what an NFT is (I am submitting the guide given at the beginning of the article here) and who can determine in which country adoption is most important? Who knows, you might make some unexpected discoveries. I am putting together more articles rich in statistics that will allow you to extend the debate until the end of the night. Very easy to find in the cracks of Zonebourse.