NFTs are a scam according to some experts, but France is one of the countries that love NFTs, according to a report

A recent report revealed that France is one of the ten countries where internet users like NFT the most, after countries like Singapore, Hong Kong, Canada, Iceland and the United States. The report, published by US-based CashNetUSA, contains charts and graphs that rank the countries most interested in NFTs, the countries that love NFTs the most, and the countries that dislike NFTs. It also provides an overview of the most searched NFTs in the world. Singapore searches for NFTs more than any other country with 18,717 searches per year. million people per month; and Poland is the most hostile country to NFTs.

An NFT is a cryptographic asset that represents an intangible digital object such as an image, video, or game. The owners of NFTs are registered on a blockchain, which makes it possible to exchange an NFT as a replacement for the digital asset it represents. So unlike most digital objects that can be rendered indefinitely, each NFT has a unique digital signature, which means it is one of a kind. NFTs are usually purchased with the cryptocurrency Ether or dollars, and the blockchain keeps a record of the transactions.

But while the NFT market boomed between the end of 2020 and the first half of 2021, it has since literally crashed, costing investors millions of dollars. A large part of the industry, several reports as well as regulators continued to describe NFTs as a big scam. And recent events seem to prove them right, with some non-fungible tokens losing more than half of their value and others worth almost nothing. Some even predict that 90-98% of today’s NFTs will become worthless within the next three to five years.

But despite the debacle in the NFT market, there is still interest in these digital assets. So experts have concluded the case as follows: “For any fanatic of the NFT who will tell you that it disrupts capitalism, you will find a pessimist who will declare that it is the end of time. For every story of an artist who finally can live off NFTs, you will find someone else who was cheated. ” CashNetUSA conducted a survey on the subject to provide an overview of the countries in the world where NFTs are most popular and where they arouse very little interest among Internet users.

The countries most interested in NFTs

According to the CashNetUSA report, Singapore is embracing the idea of ​​digital assets. This global business center is at the top of the countries most interested in NFTs if one is to believe the number of online searches. The study reports that there are 18,717 NFT searches per one million inhabitants in Singapore. Even the country’s leaders are involved. The Speaker of the Singapore Parliament has sold NFTs of his landscape photographs to raise money for charity. But he warned those who see NFTs as a get-rich-quick scheme.

You really need to know what you are doing. If you are not comfortable with this type of activity, stay away from it. Like bitcoin, the NFT space is very volatile. Proceed with caution, always investing only what you can afford, says Singapore Parliament Speaker Tan Chuan-Jin. With 18,313 searches, Hong Kong also ranks second on the list of countries most searched for NFTs. Canada (13,388), Iceland (11,194) and the United States (10,677) complete the top 5. France is 31st with 4,656 searches per million inhabitants per month.

Next, CashNetUSA researchers analyzed the tones and feel of tweets on NFTs around the world. The results show that Montenegro is the most NFT-friendly country on the planet; 862 of the 1,000 NFT-related tweets from this Balkan state were positive reviews. Bosnia-Herzegovina (with an average of 788 positive tweets out of 1,000), Luxembourg (781), Cuba (729) and Curaao (718) close the top 5. France ranks eighth among the countries with the most positive reviews by Internet users on NFTs with an average of 699 positive tweets per. 1,000.

The countries that hate NFTs the most

Poland has the highest percentage of people who hate NFTs. Nearly a quarter of NFT-related tweets from Poland (227) are negative reviews of these digital assets. Poles were probably not impressed when singer Dorota Rabczewska decided to turn into the NFT. Better known by his stage name Doda, Rabczewska had his entire body 3D-scanned. She then divided it into 406 individual parts, which can now be bought or sold as non-fungible tokens.

The starting price for an NFT of the singer’s arms and back was $ 200. NFTs from “intimate” areas – or what Doda has described as its “rare” areas – can cost up to $ 75,000. Nicaragua, Belize, Trinidad and Tobago and Barbados all have a high percentage of negative NFT tweets.

Most sought after NFT collectibles

The analysis ends with the most sought after NFT projects in the world. She revealed that Axie Infinity, an online video game developed by Vietnamese studio Sky Mavis, is the most popular NFT platform in the world. It was the most sought after NFT provider in 112 countries including Mexico, Brazil, Turkey and Sweden. Axie Infinity players collect and emboss digital pets NFTs, called Axies. Decentraland is the most searched platform in 43 countries, making it the second most popular NFT platform in the world. Decentraland is a 3D virtual world browser.

Users purchase virtual land on the platform as NFTs using Decentraland’s MANA cryptocurrency. Decentraland’s most expensive virtual property is now worth $ 3.5 million in MANA. Divided by region, data from North America, Europe, the Middle East, Asia, Oceania and Africa show that Axie Infinity is the most sought after NFT community. In regions except North America and Africa, Axie Infinity comes with only a small interest in Decentraland. Either way, Axie Infinity stands out as the clear winner in each of these regions.

In the case of North America, Decentraland appears to be the big winner in Google’s search results. Although it covers most of the region, Axie Infinity, Sorare and Bored Apes are still present as minorities in the southern cities. Africa is the only region without a clear winner in NFT curiosity. The countries are divided between Decentraland, Axie Infinity, Sorare and Bored Apes. Town Star also manages to secure a small region in Africa. South America, meanwhile, is the only region that is not interested in Decentraland, Bored Apes or the like. Axie Infinity dominates the entire region and only Chile is interested in Sandbox.

To establish these rankings, the company used keyword research, ranking tracking, and site audit tools. She searched for the term “NFT” in each country, counted search volume and calculated the number of monthly searches per. million people. The team also collected information from Twitter and performed sentiment analysis using models developed by Cardiff University.

Tweets were categorized as “negative” if the probability that a particular tweet was “negative” was greater than 0.5. To ensure more definitive results, the team also excluded countries with fewer than 50 NFT-related tweets. Finally, the team also compared the NFT project search volume with OpenSea’s list of the 100 best NFTs over time, using the data to see which projects were searched for the most in each country.

Source: CashNetUSA

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Also see

Tim Berners-Lee, The Inventor of the Web: Forget Web3, My Decentralized Internet Does Not Need Blockchain, said that Web3 stands in contrast to his plans for a new web

Bought for $ 2.9 million, the NFT for the first tweet in history is only worth $ 10,000, showing that the craze for these digital assets is disappearing

The NFT bubble is said to be shrinking, with OpenSea sales down 50% to $ 2.5 billion since January

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