Non-fungible tokens (NFTs) are the biggest on-ramp to the cryptocurrency market among countries in Central & South Asia and Oceania (CSOA) according to a new report.
Blockchain intelligence firm Chainalysis said in a new report that the Asian region received $932 billion worth of crypto from July 2021 to June 2022, thanks largely to NFTs.
The study found that web traffic from IP addresses tied to countries in the region to cryptocurrency services was majorly NFT-related.
In Q2 of 2022 alone, 58% of CSOA IP addresses accessing crypto services visited NFT-related websites. Another 21% was to the websites of play-to-earn blockchain games - which are "intimately related" to NFTs as most in-game items are NFTs.Read more on cryptonews.com