A new survey shows that the NFT mania is already on its in South Africa, with more than 8% of the surveyed people claiming that they already own NFTs. Another 9.4% of the surveyed group say that they plan on buying NFTs in the future. These data come from the newest Finder Online Survey, and the trends show the ruse of NFTs in South Africa. With more people than ever showing interest in NFTs, it is no surprise that South Africa stands at 12th place in the rankings of countries with the highest NFT adoption rate.
NFTs are a global phenomenon now, and more people than ever are now planning to buy NFTs. The desire to own NFTs spark from scarcity, since each NFT item is truly unique. The want to possess something unique has driven the world into an NFT mania, with the Collins Dictionary recently declaring NFT as the word of the year. NFTs have also made it to the mainstream, with celebrities, athletes, and sporting clubs launching their own NFT collection. As of now, daily NFT transaction volumes routinely surpass the million-dollar mark and go up dramatically from there.
What the future holds for NFTs is still uncertain. While some believe that an NFT crash is impending, others feel that NFTs would survive any economic downfall by virtue of their artistic content. However, at present, there seems to be no slowing down for the NFT market