NFTs are a scam according to some experts, yet 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 value NFT the most, after countries like Singapore, Hong Kong, Canada, Iceland and the United States. The report, published by the US-based CashNetUSA, features 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 does a breakdown of the most searched NFTs in the world. Singapore searches for NFTs more than any other country, with 18,717 searches per million people per month; and Poland is the most hostile country to NFTs.

An NFT is a cryptographic asset, which represents an intangible digital element such as an image, video or game object. NFT owners are registered on a blockchain, which allows an NFT to be exchanged as a replacement for the digital asset it represents. . So unlike most digital objects that can be reproduced indefinitely, each NFT has a unique digital signature, which means it is one of a kind. NFTs are usually bought with the cryptocurrency Ether or dollars, and the blockchain tracks transactions.

However, while the NFT market exploded between late 2020 and the first half of 2021, it has literally collapsed since then, costing investors millions of dollars. Much of the industry, several reports and regulators have continued to describe NFTs as a big scam. And recent events seem to prove them right, with some non-fungible tokens having lost more than half of their value and others are worth next to nothing. Some even predict that 90-98% of today’s NFTs will become useless within the next three to five years.

But despite the debacle in the NFT market, there is still interest in these digital assets. So, the experts concluded the thing as follows: “For every NFT fanatic who tells you that it upsets capitalism, you will find a pessimist who will declare that it is the end of time. For every story of an artist who can finally make a living with the NFTs, you will find another one that has been scammed. ” CashNetUSA has conducted a study on the subject in order to provide an overview of the countries of the world where NFTs are the most widespread and where they arouse little interest among Internet users.

The countries most interested in NFTs

According to the CashNetUSA report, Singapore embraces the idea of ​​digital assets. This global business center tops the countries most interested in NFTs, if the number of online searches is to be believed. The study reports that there are 18,717 NFT searches for one million Singapore residents. The country’s leaders are also involved. The Speaker of the Singapore Parliament sold NFT 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 highly volatile. Proceed with caution and only ever invest what you can afford, says Singapore Parliament Speaker Tan Chuan-Jin. Additionally, with 18,313 searches, Hong Kong ranks second in the list of countries where NFTs are most searched. 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 tone and sentiment of tweets about 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-Erzgovina (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 where Internet users reviews on NFT are more positive, 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 probably weren’t impressed when singer Dorota Rabczewska decided to transform into NFT. Better known by her stage name Doda than her, Rabczewska scanned her entire body in 3D. She then split it into 406 individual parts, which can now be bought or sold as non-fungible tokens.

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

The most sought after NFT collectibles

The analysis concludes with the most sought after NFT projects in the world. It revealed that Axie Infinity, an online video game developed by the Vietnamese studio Sky Mavis, is the most popular NFT platform in the world. It was the most searched NFT provider in 112 countries, including Mexico, Brazil, Turkey and Sweden. Axie Infinity players collect and coin NFTs of digital pets, 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 NFT using Decentraland’s MANA cryptocurrency. Decentraland’s most expensive virtual property is now worth $ 3.5 million in MANA. By region, data from North America, Europe, the Middle East, Asia, Oceania and Africa indicate that Axie Infinity is the most searched NFT community. In regions excluding North America and Africa, Axie Infinity has only a slight interest in Decentraland. Either way, Axie Infinity emerges as the clear winner in each of these regions.

In the case of North America, Decentraland appears as the big winner in Google’s search results. Although it contains 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 split between Decentraland, Axie Infinity, Sorare and Bored Apes. Town Star also manages to protect a small region in Africa. South America, meanwhile, is the only region not interested in Decentraland, Bored Apes or the like. Axie Infinity dominates the entire region, with only Chile interested in Sandbox.

To establish these rankings, the company used keyword research, rank tracking, and site control tools. He searched for the term “NFT” in each country, counting the search volume and calculating the number of monthly searches per million people. The team also collected information from Twitter and conducted sentiment analyzes using models developed by Cardiff University.

Tweets were classified as “negative” if the probability of a particular tweet being “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 search volumes of NFT projects against OpenSea’s list of the 100 best NFTs of all time, using the data to see which projects were the most searched for in each country.

Source: CashNet USA

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See also

Web inventor Tim Berners-Lee: forget Web3, my decentralized internet doesn’t need blockchain, said Web3 thwarts his plans for a new Web

Bought for 2.9 million, the NFT of the first tweet in history is worth just $ 10,000, showing that the frenzy for these digital assets is fading.

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

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