32% of Filipino internet users owns NFTs, tops survey with 20 countries
The Philippines ranked first for non-fungible token (NFT) ownership out of 20 countries, with 32% of Filipino internet users owning NFTs, according to an online survey by Australian independent information service Finder.
In the report, Finder said that NFT adoption in the Philippines may further increase in the future, with 9.5% planning to own NFTs.
“It’s still very early days for NFTs in the Philippines,” the information service stated.
They added that “51% of Filipino internet users currently know what NFTs are and we expect adoption to grow with awareness.”
NFTs are “non-interchangeable digital tokens” that contain data proving ownership of digital files related to art, audio, video, and in-game assets.
Sky Mavis co-founder Jeffrey Zirlin said that the Filipinos’ “love for mobile games” and cryptocurrency keeps them ahead of NFT ownership.
Meanwhile, YGG founder Gabriel Dizon explained that buying NFTs is a tactic used by Filipinos to “escape economic hardship during lockdowns.”
Finder predicts that NFT adoption in the Philippines could soon hit 41.5%. Globally, only 1.7% of internet users are NFL owners.
