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Non-fungible token (NFT) sales fell by 23.37 percent over the past ten days and by 63.10 percent over the previous month. Despite these rather concerning statistics, a recent study has identified certain nations where the NFT fever is still strong.
For instance, Singapore and Hong Kong are two regions in the world where NFT interest is still as high as ever. Singapore, Hong Kong, and Canada are still showing optimism about what NFTs might provide, according to a research by cashnetusa.com.
The study examined search data for March 2022 in every nation, after which it determined the number of monthly searches per 1,000,000 residents in that country. Additionally, researchers looked through tweets that contained the search phrases "NFT" and "NFTs."
Researchers gathered their data using a variety of web resources and programs, including Ahrefs, Twitter API, Snscrape, and a sentiment analysis application called Hugging Face created by Cardiff University.
Cashnetusa.com created four separate lists for comparing nations to one another based on the date. The lists included the most popular NFT, NFT Interest, NFT Love, and NFT Hate.
The team learned some intriguing facts from all of it. Singapore, which topped the list of "NFT Interest," is the country that is "most eager" for NFTs, according to the report. According to the data, Singapore looks for NFTs more frequently than any other nation (18,717 searches per million residents each month). According to the study's subsequent findings, Montenegro is the country with the most pro-NFT sentiment, with "862 out of 1000 tweets proving favorable."
Behind Singapore, Hong Kong, and Canada, Iceland and the U.S. filled out the top 5 list for "NFT Interest," however for "NFT Love," Bosnia and Herzegovina, Luxembourg, Cuba, and Curaçao trailed Montenegro.
Poland, on the other hand, was identified as the "most anti-NFT country" in the survey. Poland was at the top of the "NFT Hate" list with 227 out of every 1,000 tweets with NFT-related content being hateful. Nicaragua, Belize, Trinidad & Tobago, and Barbados came after Poland.
According to the research, the most well-known NFT project worldwide is the blockchain game Axie Infinity. According to dappradar.com, the game has generated enormous $4.23 billion in NFT revenues from 2,115,063 traders. Bored Ape Yacht Club (BAYC) is number one in six countries, Axie Infinity is number one in six, Decentraland is number two in 43 countries, and Axie Infinity is number one in 112 countries.
"As a limited-edition collection with a hefty entrance price, the Apes may be headline news, but they're not at the fingertips of the ordinary NFT aficionado when Googling for new buys," the cashnetusa.com study team stated.
The paper also provided some analysis of the characteristics of NFTs, pointing out that there is a lot of "social, technological, and environmental craziness." They add, "Divided opinions follow where money and status lead. NFTs are mired in controversy due to risky investments, frauds, environmental concerns, and difficult-to-understand technology. Commentators on NFTs may be divided into two groups: enthusiasts and skeptics. Everyone among NFT advocates has a side, whether it be Bored Apes or Axie monsters.
For instance, Singapore and Hong Kong are two regions in the world where NFT interest is still as high as ever. Singapore, Hong Kong, and Canada are still showing optimism about what NFTs might provide, according to a research by cashnetusa.com.
The study examined search data for March 2022 in every nation, after which it determined the number of monthly searches per 1,000,000 residents in that country. Additionally, researchers looked through tweets that contained the search phrases "NFT" and "NFTs."
Researchers gathered their data using a variety of web resources and programs, including Ahrefs, Twitter API, Snscrape, and a sentiment analysis application called Hugging Face created by Cardiff University.
Cashnetusa.com created four separate lists for comparing nations to one another based on the date. The lists included the most popular NFT, NFT Interest, NFT Love, and NFT Hate.
The team learned some intriguing facts from all of it. Singapore, which topped the list of "NFT Interest," is the country that is "most eager" for NFTs, according to the report. According to the data, Singapore looks for NFTs more frequently than any other nation (18,717 searches per million residents each month). According to the study's subsequent findings, Montenegro is the country with the most pro-NFT sentiment, with "862 out of 1000 tweets proving favorable."
Behind Singapore, Hong Kong, and Canada, Iceland and the U.S. filled out the top 5 list for "NFT Interest," however for "NFT Love," Bosnia and Herzegovina, Luxembourg, Cuba, and Curaçao trailed Montenegro.
Poland, on the other hand, was identified as the "most anti-NFT country" in the survey. Poland was at the top of the "NFT Hate" list with 227 out of every 1,000 tweets with NFT-related content being hateful. Nicaragua, Belize, Trinidad & Tobago, and Barbados came after Poland.
According to the research, the most well-known NFT project worldwide is the blockchain game Axie Infinity. According to dappradar.com, the game has generated enormous $4.23 billion in NFT revenues from 2,115,063 traders. Bored Ape Yacht Club (BAYC) is number one in six countries, Axie Infinity is number one in six, Decentraland is number two in 43 countries, and Axie Infinity is number one in 112 countries.
"As a limited-edition collection with a hefty entrance price, the Apes may be headline news, but they're not at the fingertips of the ordinary NFT aficionado when Googling for new buys," the cashnetusa.com study team stated.
The paper also provided some analysis of the characteristics of NFTs, pointing out that there is a lot of "social, technological, and environmental craziness." They add, "Divided opinions follow where money and status lead. NFTs are mired in controversy due to risky investments, frauds, environmental concerns, and difficult-to-understand technology. Commentators on NFTs may be divided into two groups: enthusiasts and skeptics. Everyone among NFT advocates has a side, whether it be Bored Apes or Axie monsters.