Key Takeaways:
- 8.3% of the polled South Africans own NFTs and further plan to buy more, according to the results of the most recent Finder online survey
- According to the survey, men are more likely than women to have NFTs in 18 of the 20 countries.
According to the results of the most recent Finder online survey, 8.3% of the 1,205 South African internet users surveyed own a non-fungible token (NFT). These findings have led to South Africa being ranked as the country with the world’s 12th highest NFT adoption rate. Furthermore, in terms of internet users who intend to purchase NFTs in the future, the survey found that 9.4% of those polled in South Africa intend to do so. When this is added to the number of internet users who already own NFTs, South Africa’s NFT adoption rate could quickly reach 17.8%. This figure is higher than Vietnam’s (17%), which is currently ranked fifth globally.
Moving on, the Philippines has the most NFT owners (32%), followed by Thailand (27%), Malaysia (24%), and the United Arab Emirates (UAE) (23%). Nigeria, which is ranked sixth globally, is the top-ranked African country, with 13.7% of polled users confirming ownership of an NFT.
According to Keegan Francis, Finder’s cryptocurrency editor, countries with higher levels of adoption typically have a lower average wage of working citizens. As a result, people are quitting their jobs to trade NFTs or play NFT play-to-earn games to earn more money. Moreover, NFTs may act as a nexus for them to enter the cryptocurrency industry in general. If you don’t have government identification, opening an account on an exchange can be difficult. These NFT games do not require identification, but they do allow you to earn money. In addition, you can trade cryptocurrency for anything else you want once you’ve made some money, such as Bitcoin or Ethereum.
According to the survey, men are more likely than women to have NFTs in 18 of the 20 countries. The most significant gender gaps are found in the United Arab Emirates, Vietnam, and Malaysia. Women are more likely than men to have non-fungible tokens in two countries. Thailand has a seven percentage point female-led gap, while Venezuela has a two percentage point gap.
While many expect global NFT adoption to rise, the survey found that internet users in Japan have the least knowledge of NFTs. Approximately 90% of Japanese users have no idea what NFTs are. With 83% unsure, Germany comes in second, followed by the United Kingdom with 79% of people unsure. However, there is a strong link between those who understand NFTs and those who have them. This suggests that as more people become aware of NFTs, ownership for NFTs will rise.
