A quarter of crypto investors in Japan have tried out NFTs

A recent survey by a major Japanese crypto exchange revealed that every one out of four crypto investors in Japan has tried their hands on non-fungible tokens (NFTs).

BitBank conducted an online survey to study the NFT investment trends in the Japanese digital currency market. Publishing the results on Thursday, the exchange firm stated that the survey involves 2,061 crypto users in a time period of seven days, from October 26 to November 1.

The respondents of the poll included users of BitBank and random Twitter crypto holders. The survey result reveals that around 26% of Japanese crypto users have held NFTs. The survey further concludes that the majority of NFT investors represent generations aged between 20 and 40.

As per the most respondents, the main motive for owning NFTs, like investment in cryptocurrencies like Bitcoin (BTC), is to hold them for the long run. BitBank reports that around 60% of respondents consider their NFTs a long-term investment.

Japan has the potential to drive forward NFT movement 

In November last year, Japan clarified its stance on crypto donations, making it legal with the crypto industry booming in the country.

As per survey results, 39% of NFT holders have never sold their NFTs and are unsure of their value, whereas over 22% have not sold their NFTs but are informed about their worth. Additionally, 19% of respondents stated that selling NFTs profited them.

The report further notes that the main theme for NFTs in the Japanese digital currency market has been art, followed by games, metaverse, sports, and entertainment. 

The NFT market has been solidifying its roots in Japan with Coincheck, a local exchange launching the NFT marketplace in March this year. 

Recently as TheCoinRise covered, a group of major Japanese companies has revealed its yen-based token creation plans.

Japan is renowned for its influential anime, manga, and pop culture, with many believing that it could become a hub for the NFT movement drive.

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