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 undertaking, 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 2022
Chinese language music legend, Jay Chou, introduced by way of Instagram that he can be auctioning off his traditional music 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 every of these initiatives will see his very extremely profitable NFT undertaking, 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 recognition as the complete assortment of 10,000 items offered out in a couple of hours. A number 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 robust liking for digital belongings. The nation, whereas being hostile to cryptocurrencies, has demonstrated a comfortable spot for NFTs and plans to manage it individually. The Chinese language authorities will even be backing NFT growth based on studies.
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 accordance 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%).