Non-fungible tokens (NFTs)

Usage of Non-fungible tokens (NFTs) is on the rise and significantly impacting the world, developing into a $40 billion USD market in 2021. The NFT trends 2022 is expected to witness, for example, digital tagging for artwork, indicating a sector that will continue growing, disrupting industries, and changing our daily lives. Southeast Asian countries are standing out for their interest in this new technology.

According to research from FinderNFT adoption in Southeast Asia is rising, with the region having the highest adoption rates worldwide. Finder’s online survey polled over 28,000 people across 20 countries and asked about their NFT ownership status. The Philippines ranks first with 32% ownership, Thailand second with 27%, and Malaysia third with 24%. Vietnam rounds off the top five worldwide with 17% NFT ownership, just below the United Arab Emirates (UAE) at 23%. These high countries line up advantageously to Zetrix’s Regional Comprehensive Economic Partnership and later One Belt One Road geographic focus.

Zetrix has developed token standards to support the issuance of token commonly associated with NFT use cases similar to ERC-721 and ERC-1155 and our near term aim is to ensure these token are a start point into interoperability within jurisdictions where digital asset regulations require specific legal and data treatment such as China.