• DappRadar report shows US and Indonesia driving NFT wave

  • A new report from DappRadar shows that interest in NFT is mainly coming from the US and Indonesia, while Russia and India also have a presence in the market.

    DappRadar, an NFT and decentralized financial and decentralized app store and a data provider, revealed in its user behavior report this month that 85 percent of DeFi users have also interacted with NFT, reflecting a new wave of interest and adoption.

    Analyzing its 500,000 users between July 1 and Aug. 7, DappRadar said in the report that users from the U.S. appear to be most interested in NFT collections and marketplaces.

    “The US has also traditionally been one of the top markets for any type of collectibles, from rare toys to sports memorabilia. It’s not surprising to see them replicating interest in the digital space.” In Asia, Indonesia is a standout performer, followed by India, the report said.

    “We can conclude that the hype of NFT is real. More experienced blockchainers, such as DeFi users, will realize the full potential of NFT and its multiple applications, which have become possible,” the company said in the report.” With new collections appearing every day and record numbers being put into the NFT space, there is no doubt that the space will deliver significant upside in the medium term.”

    Data from DappRadar shows that in the last 30 days, some 1.35 million transactions were made using OpenSea’s smart contracts, a 179.9 percent increase over the previous 30 days’ volume.

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