A study showcases that India is home to the third-largest number of non-fungible-token (NFT) firms in the world.
According to the report 11 NFT companies are headquartered in India, right behind the US and Singapore. Indian NFT marketplaces had formed 5.02% of the total NFT firms globally led by players like WazirX, Jupiter, among others.
“India is known for having a strong IT and communications sector so it should come as no surprise that a country this big is one of the top places for NFT companies,” read the report.
The USA is at the top of the list with 91 NFT companies, while Singapore comes second by playing host to 24 NFT players.
The report gathered data from Google searches as well as Blockdata to determine the popularity of the modern tokens throughout 50 countries across the world.
Also Read: India Ready with Cryptocurrency Consultation Paper: Govt Official.
The study also revealed that India had the Fifth highest number of Google searches for keywords related to NFTs. In total, over 3.5 million searches came from India during the 12 months of the study.
However, India was at the end of the list in terms of NFT searches per 1,000 population. India managed merely around 254 NFT searches per 1,000 population.
Taiwan came first with 9,629 searches per 1,000 population, followed by Australia with 8,198 searches and Canada came third with 8,127 Google searches per 1,000 population.
India is growing in the NFT space and it has spread into all fields. Just recently, a Hyderabad Based Startup Launched India’s 1st Carbon Offset NFT. The NFT marketplace is booming in India and everyone is trying to get a piece of the pie.