• Survey Shows 26% of Japanese Cryptocurrency Investors Tried NFTs

  • At least one in four cryptocurrency investors in Japan have had experience holding non-counterfeitable tokens (NFTs), according to a new survey.

    BitBank, Japan’s leading cryptocurrency exchange, conducted an online survey to provide insight into NFT investment trends in the Japanese cryptocurrency market.

    In its survey results, released on November 25, BitBank said it surveyed 2,061 cryptocurrency users between October 26 and November 1, 2021. A spokesperson for the company told us that respondents included BitBank’s customers, as well as cryptocurrency holders who were randomly surveyed via Twitter.

    The survey results show that as many as 26% of Japanese cryptocurrency investors have tried to hold NFTs so far, with the majority of NFT investors represented by millennials aged 20 to 40.

    For the majority of respondents, the main reason for holding NFT is similar to investing in cryptocurrencies such as Bitcoin (BTC), i.e., long-term holdings. According to BitBank, as many as 60% of respondents said they see their NFT as a long-term investment.

    According to the survey results, 39% of NFT holders in the survey said they have never sold their NFTs and are unsure of their value, while more than 22% of respondents have not sold their NFTs but know their value. Another 19% of respondents said that they have benefited from selling their NFTs.

    The report also notes that art remains the main theme for NFTs in the Japanese cryptocurrency market, followed by gaming, metaverse, entertainment, and sports.

    The NFT industry is growing in popularity in Japan, with local cryptocurrency exchange Coincheck launching its own NFT marketplace in March 2021.

    As Japan is known globally for its influential pop culture, including anime and manga, many believe the country has great potential to drive the NFT movement forward. Earlier this year, early cryptocurrency evangelist Mai Fujimoto, also known as Miss Bitcoin, partnered with blockchain gaming ecosystem Enjin to launch an NFT charity project in Japan.

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