Now we need some statistics. Respondents from the United States, UK, Canada, and Germany were much less likely to have or buy NFTs in 2021 than adults from other countries in the world. Comparing results from several Google Surveys held across the world in September 2021 reveals that non-fungible tokens were especially popular in Southeast Asia and Latin America.
Although our source admits the used methodology is not flawless, the position of certain countries in this ranking is noticeable. Take, for instance, the Philippines: The country hit the news as it decided to making earnings from NFT game Axie Infinity - originally from Vietnam - taxable, causing sales made within Axie Infinity to decline. Indeed, the source suspects that the high percentage observed in some countries are "likely" caused by gaming NFTs or metaverses, online games where people can earn money by playing the game of trading the game's in-house cryptocurrency. Another example of such a platform is Argentina's Decentraland, a 3D virtual reality platform where users can - amongst other things - buy and sell virtual real estate called LAND.
And a little bit more of numbers: 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%). According to the report, The Philippines has 9.5% of its poll participants planning to buy NFTs and a forecast adoption of 41.5% which is the highest. Thailand, which followed, has 7.9% of its poll participants planning to buy and a forecast adoption of 34.5%. Malaysia has 10.5% of its poll participants planning to buy NFTs and a forecast adoption of 34.4%. The UAE has 11.5% of its participants planning to buy NFTs and a forecast adoption of 34.9%, and Vietnam has 11.62% of its participants planning to buy NFTs and a forecast adoption of 29.1%.