[Statista] Where Most NFT Users Live
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NFTS
Where Most NFT Users Live
by Anna Fleck, Jun 3, 2022
Non-fungible tokens, or NFTs, gained significant traction among certain East and Southeast Asian countries in 2021, including Thailand, China and Vietnam, according to the Statista Digital Economy Compass 2022. As our chart shows, Thailand took the lead as the country with the highest number of NFT users in the world in 2021, with a total of 5.65 million users. This was followed by Brazil with 4.99 million users and the U.S. with 3.81 million. When taking the countries’ population sizes into account, Thailand was still ahead of other countries in the top 10 of the biggest users, with 8.08 percent of its people owning digital property. This is in stark contrast to Canada, where a 3.67 percent share of the population are collectors, and Brazil with a 2.33 percent share.
According to Forbes, an NFT is defined as a “digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.” These digital items are popular for being unique, thanks to specific identifying codes, which are attached when they are created or ‘minted’ (published on the blockchain so others can buy them).
By 2021, the NFT market had reportedly grown to more than $41 billion in value, according to a report by the blockchain data company Chainalysis, nearly rivaling the size of the conventional art market, which stood at $50 billion in 2020. However, the NFT market saw a crash last month, as the sale of NFTs fell to a daily average of about 19,000 - a drop of 92 percent since the peak of about 225,000 in September - as reported by the World Street Journal. This is being put down to a general decrease in hype, the fact cryptocurrencies have seen falls in value, fear of scams and rising inflation rates making people less inclined to make risky investments.
The boom in Southeast Asia has been linked to a number of reasons, including the popularity of play-to-earn games such as Axie Infinity by the Vietnamese company Sky Mavis as well as the rising number of artists that are able to showcase their work on social media channels like Discord and Twitter. Users can buy NFTs of virtual land, too, as with the Metaverse Thailand virtual sale in October 2021, when buyers were invited to purchase blocks of land in a virtual downtown Bangkok.
Financial experts, however, warn against over relying on NFTs, as there is little basis for their valuation since they are bought and sold based on speculation and hype. As Chuin Ting Weber, CEO of MoneyOwl, a bionic financial advisor, tells Yahoo News: “NFTs do not have an underlying economic return based on economic activity of companies or countries. Their payoff structure is speculative and volatile: You can win astronomically but you can also lose everything.” For this reason, he suggests users only put into NFTs what they are prepared to lose.

References: Statista
Infographic: Where Most NFT Users Live
This chart shows where the most NFT users lived in 2021, by country.
www.statista.com
Key Points
- Statista Digital Economy Compass 2022에 따르면 NFT는 태국, 중국, 베트남을 포함한 동아시아 및 동남아시아에서 큰 관심을 받았음
- 태국은 2021년 기준 565만명으로 NFT 사용자가 가장 많은 국가로 나타났으며, 인구규모를 고려했을 때 전체 인구의 8.08%가 디지털 자산을 보유한 것으로 나타남
- Forbes에 따르면 NFT는 예술, 음악, 게임 내 항목 및 비디오와 같은 실제 개체를 나타내는 디지털 자산으로 정의되며, 주로 암호화페로 거래되며 해당 소프트웨어로 인코딩됨
- NFT는 생성되거나 발행될 때 첨부되는 특정한 식별 코드 덕분에 고유한 것으로 알려짐
- NFT는 2021년 기준 410억 달러 규모의 시장으로 성장하였으며, 2020년 500억 달러에 달하는 기존 미술 시장 규모와 비슷한 수준에 근접함
- 다만, 최근 NFT 판매가 일일평균 약 19,000개로 하락하면서 시장이 폭락했는데, 이는 과대광고의 감소, 암호화페의 가치하락, 사기에 대한 두려움, 인플레이션 상승 등으로 추정됨
- 동남아시아의 NFT 부은 베트남 회사 Sky Mavis의 인기와 NFT 작가의 증가 등과 관련되어 있으며, 메타버스 태국 가상판매처럼 가상 토지의 NFT도 구매 가능한 상태
- 금융 전문가들은 NFT가 투기와 과대광고에 기반하여 있음을 우려
- NFT의 구조는 투기적이고 변동적이며, 천문학적으로 이익을 취할 수 있으나 모든 것을 잃을 수도 있다고 경고함