Non fungible tokens (NFTs) are blockchain-based token with unique characteristics, something that is perfect for representing art or collectibles. Asia has in the past been synonymous with advancement in technology and a keen eye for establishing collections in art and other areas. In areas such as Singapore and Hong Kong, high percentages of millennial art collectors provide the perfect demographic for NFTs.
Humans have always been keen on forming collections at some point in their lives, the way we collect is now changing. Digital collections is a multi-billion dollar industry in the making and many expect Asia to be at the forefront of this drive. Through looking back in recent history, the Asians have both launched and embraced real-world and digital collectible trends, exemplified by the Pokémon and Pokémon Go craze.
The number of active users on Pokémon Go has incurred steady growth from 2016, despite it receiving little to no mainstream attention. In 2020, the amount of active Pokémon Go Asian Pacific players toppled 300 million.
Asia still remains the hottest market for gamers and is forecasted to be the focal region for driving NFTs into the future.
