NFTs ‘biggest on-ramp’ to crypto in Central, Southern Asia and Oceania — report

NFTs ‘biggest on-ramp’ to crypto in Central, Southern Asia and Oceania — report


Nonfungible tokens (NFTs) may be the biggest driver of crypto adoption in Central, Southern Asia, and Oceania (CSAO), a new report has found. 

According to a Sept. 21 Chainalysis post titled “Crypto Adoption Steadies in South Asia, Soars in the Southeast,” NFT-related actions accounted for 58% of all web traffic going to cryptocurrency services from this region in the second quarter of 2022.

Meanwhile another 21% of traffic in the quarter went to websites of play-to-earn (P2E) blockchain games, with major titles including Axie Infinity, STEPN and Battle Infinity. 

Trending: Chicago Criminal Attempts to Rob Florida Gas Station, Instantly Regrets His Decision

Chainalysis noted that P2E blockchain games are “intimately related” to NFTs, as most P2E games feature in-game items in the form of NFTs that can be sold on marketplaces like MagicEden and OpenSea, thus meaning: 

“NFTs are perhaps the

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend