Jay Chou, one of many best-selling musical artists in China, has introduced that he can be auctioning off considered one of his traditional songs as an NFT. Chou additionally reveals that he has a number of NFT collaborations lined up for 2022. The artists’ earlier NFT venture, the PhantaBears lately rose to first in international NFT gross sales rating on OpenSea, surpassing the favored Bored Apes Yacht Membership (BAYC).
China’s most well-known musician Jay Chou to launch a number of NFT initiatives by way of 2022
Chinese language music legend, Jay Chou, introduced by way of Instagram that he can be auctioning off his traditional track DEMO as an NFT. The public sale can be carried out internationally by his report label, JVR Music Label.
The Taiwanese singer additionally provides that he’s engaged on a number of extra NFT initiatives alongside a brand new music album. One in all these initiatives will see his very extremely profitable NFT venture, the PhantaBears, be launched in digital actuality (VR) format based on his announcement.
The PhantaBears NFTs, which was launched on the primary of January, shortly rose in reputation as the complete assortment of 10,000 items offered out in just a few hours. A couple of days later, the buying and selling quantity of the gathering had reached 17,194.22 ETH (US$53.6 million), leaping 462.66% in every week. This positioned it above BAYC in international buying and selling quantity rating on OpenSea.
NFT Dominance rises in Asia whereas Cryptocurrencies take the again seat
The success of Chou’s NFT assortment is no surprise because the Chinese language market has been displaying a powerful liking for digital belongings. The nation, whereas being hostile to cryptocurrencies, has demonstrated a delicate spot for NFTs and plans to control it individually. The Chinese language authorities will even be backing NFT improvement based on experiences.
Different Asian nations together with the Philippines, Thailand, and Singapore are additionally adopting NFTs quickly. A report said that Southeast Asia noticed the very best international adoption of NFTs in 2021. In keeping with their information, the Philippines has probably the most NFT homeowners (32%) out of the 20 nations in contrast, adopted by Thailand (27%), Malaysia (24%), the UAE (23%), and Vietnam (17%).
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