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NFT statistics 2021
Finder’s NFT adoption report: 6.8% of Singaporean internet users own NFTs.
According to new research from Finder.com, 6.8% of Singaporean 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 Singapore ranks 7th last for NFT adoption.
However, while just 6.8% of the 1,002 Singaporean Internet users surveyed said they currently own NFTs, an additional 11% said they plan to acquire some. This means NFT adoption in Singapore could soon hit 17.8%.
Singaporean men are more likely to own NFTs than women, with 7.4% men compared to 6.2% of women saying they have at least one NFT. The NFT gender gap in Singapore of 1.2 percentage points is lower than the global gender gap of 2.7 percentage points.
People ages 25 to 34 are the most likely to have NFTs in Singapore (12%). This is followed by those ages 35 to 44 (9.5%), then ages 18 to 24 and 45 to 54 (8.1% each).
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 18 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 two countries, women are more likely to have non-fungible tokens. Thailand has a female-led gap of 7 percentage points, while Venezuela has a gap of 2 percentage points.
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.
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