NFTs or Non-Fungible-Tokens are tradeable, uniquely identifiable, secure versions of a digital asset, including jpegs and videos, that come in many forms. They can range from digital art and photos to even a song. Any unique creation can be a non-fungible (non-interchangeable) token with monetary value.
In 2021, Asia not only accounted for most of NFT-based web traffic but also 35% of the $22 billion worth of global trade in the digital files. Users from China, Singapore, Hong Kong, the Philippines and South Korea most frequently searched for NFTs, while countries like Venezuela, Indonesia, Thailand and Malaysia led the adoption of NFT play-to-earn games like Axie Infinity.
People around the world are spending millions of dollars at NFT marketplaces to buy NFT collectibles. Collectors and digital artists can use crypto wallets like Ethereum blockchain-based Metamask to buy and sell nfts.