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NFT statistics 2021

Finder’s NFT adoption report: 13.7% of Nigerian internet users own NFTs.

According to new research from Finder.com, 13.7% of Nigerian Internet users currently own a non-fungible token (NFT). Finder polled over 28,000 people in an online survey across 20 countries to compare NFT ownership, revealing Nigeria ranks 6th for NFT adoption.

However, while 13.7% of the 1,205 Nigerian Internet users surveyed said they currently own NFTs, an additional 21.7% said they plan to acquire some. This means NFT adoption in Nigeria could soon hit 35.3%.

Nigerian men are more likely to own NFTs than women, with 15.5 men compared to 11.8 of women saying they have at least one NFT. The NFT gender gap in Nigeria of 3.7 percentage points is higher than the global gender gap of 2.7 percentage points.

People ages 55 to 64 are the most likely to have NFTs in Nigeria (21%). At the other end of the spectrum are people ages 45 to 54 (5.9%).

Which country has the most NFT owners?

The Philippines has the most NFT owners (32%) out of the 20 countries compared, followed by Thailand (27%), Malaysia (24%), the UAE (23%) and Vietnam (17%). On the other end of the spectrum, Japan has the smallest percentage of Internet users with NFTs (2%), followed by the UK and the US (3% each), Germany (4%), Australia (5%) and Canada (6%).

Finder’s cryptocurrency editor, Keegan Francis, says the countries with higher levels of adoption typically have a lower average wage of working citizens. People are quitting their jobs because they can make more money trading NFTs or playing NFT play-to-earn games. Additionally, NFTs may serve as the nexus through which they enter the cryptocurrency industry in general. Exchanges can be difficult to obtain an account on if you don’t have government identification. These NFT games don’t require ID, and yet allow you to make money. Once you’ve made some money in cryptocurrency, you can trade it for whatever else you might want, such as Bitcoin or Ethereum.

Nigeria is expected to have the biggest growth in NFT adoption from 13.7% to 35.3% – an increase of 22 percentage points. Other countries that are expected to see huge growth in NFT adoption include Peru, Venezuela and United Arab Emirates.

In 17 of the 20 countries surveyed, men are more likely to have NFTs than women. Of these, the United Arab Emirates, Vietnam and Malaysia have the biggest gender gaps.

Meanwhile, in three countries, women are more likely to have non-fungible tokens. Thailand has a female-led gap of 7%, while South Africa and Venezuela both have a gap of 4% and 2%, respectively.

How many people know what an NFT is?

While NFT adoption is forecast to increase around the world in future, a large number of people still don’t know what NFTs are. Japan has the highest percentage of people who said they don’t know what NFTs are (90%), followed by Germany (83%) and the United Kingdom (79%). On the other end of the spectrum, the Philippines recorded the lowest percentage at 49%, followed by Nigeria (52%) and Thailand (53%).

There is a strong correlation between those who know what NFTs are and those who own NFTs. This suggests ownership will increase as people become aware of NFTs.

Image: Getty

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