• NFTs were used by 26% of Japanese crypto investors, according to a survey

  • According to a new survey, one out of every four cryptocurrency investors in Japan has held nonfungible tokens (NFTs).

    BitBank, a major Japanese cryptocurrency exchange, conducted an online survey to investigate NFT investment trends in the Japanese cryptocurrency market.

    BitBank said in a press release on Nov. 25 that it polled 2,061 cryptocurrency users between Oct. 26 and Nov. 1, 2021. According to a BitBank spokesperson, the respondents included BitBank clients as well as crypto holders polled at random via Twitter.

    According to the survey results, as many as 26% of Japanese crypto investors have tried holding NFTs so far, with the majority of NFT investors being younger generations aged 20 to 40.

    The primary reason for holding NFTs, similar to investing in cryptocurrencies such as Bitcoin (BTC), is to hold them for the long term. According to BitBank, as many as 60% of respondents see their NFTs as a long-term investment.

    According to the survey results, 39 percent of NFT holders have never sold their NFTs and are unsure of their value, while more than 22 percent have not sold their NFTs but are aware of their value. Another 19% of those polled stated that they benefited from selling NFTs.

    According to the report, art has remained the most popular theme for NFTs in the Japanese crypto market, followed by games, metaverse, entertainment, and sports.

    The NFT industry is gaining traction in Japan, with local crypto exchange Coincheck launching its own NFT marketplace in March 2021.

    Because Japan is known around the world for its influential pop culture, such as anime and manga, many people believe that the country has the potential to propel the NFT movement forward. Mai Fujimoto, also known as Miss Bitcoin, an early crypto evangelist, partnered with blockchain gaming ecosystem Enjin earlier this year to launch an NFT charity project in Japan.

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