Cryptocurrency
Top 5 Countries Most Interested In NFTs The market for non-fungible tokens (NFTs) is in its infancy, but many investors have been quick to jump on the bandwagon. Total NFT sales between the start of January and end of April 2022 stood at $37 billion, according to a report from blockchain analysis firm Chainalysis, compared with $40 billion for the whole of 2021. Here are the top five countries that made the most NFT-related searches between June 2021 and May 2022, according to the NFT Club.
Taiwan Population: 23.9 million NFT searches per 100,000 people: 9.629 Taiwan is known to be a hub where new technologies such as blockchain and NFTs thrive. In December 2021, the OneOffs NFT International Art Fair was held in Taipei, Taiwan. The event had over 20,000 visitors and generated sales of over $1.7 million. In May 2022, the country saw the launch of the world’s first metaverse music label, dubbed 0x0, with the label’s artists existing in the form of NFT characters and releasing music as their character. Medicine Man, from the Bored Ape Yacht Club collection, was 0x0’s first artist.
Australian cricket and play-toearn virtual gaming, which will be available to over one billion cricket fans worldwide.
Australia
Canada
Population: 26.1 million NFT searches per 100,000 people: 8,198
Population: 38.4 million NFT searches per 100,000 people: 8,127
Australia is home to the headquarters of seven NFT companies, representing 3.2% of the world’s total. In February 2022, the Australian Taxation Office set out its stance on NFTs, saying that they would follow the same general principles as cryptocurrencies. In April 2022, Cricket Australia and the Australian Cricketers’ Association inked a multi-year licensing deal with cricket NFT platform startup Rario and digital trading firm BlockTrust for collectible NFTs from
According to NFT Club, Canada is home to the headquarters of Dapper Labs, the third highest-funded NFT company in the world with $672 million, and The Sandbox, the 10th highest-funded NFT company in the world with $93 million. The Canada Revenue Agency has a policy in place whereby buying an NFT is not taxable but selling one might be. In March, Canada saw the launch of the Canadian Web3 Council, a non-profit trade association that aims to boost Web3 technology
F O R B E S M I D D L E E A S T.C O M
such as blockchain. Canadian entrepreneurs have made significant contributions to the digital asset space, from co-founding Ethereum to launching NFT platforms like CryptoKitties and NBA Top Shot.
Iceland Population: 345,393 NFT searches per 100,000 people: 8,014 The Financial Supervisory Authority, Iceland’s sole financial regulator, approved the first blockchain-powered e-money firm in the country in 2019. Meanwhile, Iceland is among the 10 Best Global Crypto Mining Hubs, according to CoinMarketCap. The country has been supportive in creating environmentallyfriendly Bitcoin mining, with the Icelandic Blockchain
Foundation claiming that 8% of all Bitcoin production is done through geothermal and hydroelectric energy.
New Zealand Population: 4.9 million NFT searches per 100,000 people: 7,651 In September 2021, All Blacks’ former rugby player Dan Carter and a number of local artists and entertainers launched a new NFT marketplace called Glorious to offer a curated showcase of premium authentic digital masterpieces from world-class creators across art, sport, and music. In 2022, New Zealand had its first NFT auction, consisting of two NFTs: Charles Frederick Goldie at His Easel, and Charles Frederick Goldie in His Studio, sold for $51,250 and $76,250 respectively.
JULY 2022
BY JULIAN NABIL, IMAGE FROM 0X0.GG
LEADERBOARD
20
