Hong Kong NFT gamers are second-most enthusiastic after India

Hong Kong now ranks second among the countries with the highest adoption of non-fungible token (NFT) games. The data shows that one in four people in the city has played NFT games.

Hong Kong ranks second in NFT game adoption

A recently published survey by Finder showed that around 28.7% of the respondents admitted to having played a play-to-earn NFT game. On the other hand, 55% of the respondents said they did not know what play-to-earn games were.

NFT games have become popular because they allow players to trade their in-game items for real money. Some of the most popular NFT and blockchain-based games include Axie Infinity, The Sandbox and STEPN.

Despite the growing popularity of NFT games, players against them have argued that the developers have abandoned the design and dynamics of the game to focus on the ways of making money. Critics have also argued that play-to-earn games are unsustainable because the players are more focused on making money than spending money.

India leads in NFT game adoption

The survey showed that India was the largest hub for NFT games. 33.8% of the respondents admitted to playing these games. The United Arab Emirates ranked third with 27.4%, while the Philippines ranked fourth with a 25% adoption rate.

In Vietnam and Singapore, the number of people that have played NFT games is more than 20%. The number of people playing these games is significantly lower in developed countries, with the US and the UK having a 9.4% and 7.6% adoption rate, respectively.

The growing adoption of NFT games in Hong Kong stems from the commitment to achieve a technology future and a need to embrace innovation. NFTs have still maintained their popularity despite the ongoing turmoil in the cryptocurrency market. While most collections have lost some of their value, NFT initiatives seem to be withstanding the turbulence.

Some of the largest game tokens have witnessed significant dips in value. ApeCoin has dipped to around $6, a third of its high recorded in April. The Sandbox (SAND) has also witnessed a massive decline, with the prices falling to around $1.30. SAND had reached an all-time high of around $8 in November last year. The GMT token for the STEPN network has also lost a quarter of its value since April, and it was trading at slightly above $1.