• Brits don’t know anything about NFTS, only 21% know what they are

  • Brits are ignorant about NFTS, according to research by financial comparison website Finder.com. The study, which involved 28,000 adults in 20 countries, reveals a shocking level of ignorance about the emerging technology.

    Only one in five (21%) UK residents say they know what NFTs are, which could be part of the reason why only 3.3% of Brits plan to buy tokens “at some point in the future”. If this happens, it would mean that around 1.7 million people in the country own NFTs.

    In terms of global rankings, these figures put the UK in the bottom third in terms of NFT awareness. Only Germany and Japan fare worse. This may come as a surprise to many, considering the famous outsider art and anti-establishment attitude of cities like Berlin, and Japan’s reputation as one of the most technologically advanced countries on the planet.

    However, it is important to recognize that this study has some important limitations. First, it only considers a very small number of people in each country. More importantly, the vast majority of the world’s countries were not included – there are 195 countries on the planet, so 20 were barely touched.

    So the Brits aren’t ignorant?

    No, that’s not what we’re talking about – it’s best not to go into the various other signs of ignorance that Britain has shown us in recent years. What we are saying, however, is that if this study included all places on the planet, then this country might appear higher up the perception charts.

    There are a few other interesting things to note about this survey. First, the US is also very low in terms of public awareness of NFTs. Given that the US is one of the major markets for non-counterfeitable tokens, you might expect this number to be higher.

    It is also telling that the country with the highest level of awareness when it comes to non-counterfeitable tokens is the Philippines. You could argue that this is where the strongest everyday use cases have emerged. In August this year, the country’s tax regulator even announced that income from playing to the title Axie Infinity will now be subject to income tax due to such a high adoption rate.

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