Jou Chou, a prominent Chinese musical performer, suggested that one of his previous songs could be auctioned off. Jay Chou announced it on his Instagram account. Under the NFT handle, he revealed in the chat that he will be auctioning off his popular song DEMO. The auction will be held under the auspices of JBL.
Apart from that, Chou reveals that he has several NFT collaborations. Moreover, the Chinese government is rumored to be promoting the growth of NFT.
The artist also announced that he is working on a new music album titled Fashion Brand Chou PHANTACi and various other NFT projects. In the Phanta Bear NFT collections, this industry released 10,000 NFTs.
Chou’s entry, the sources say, will begin to create a celebrity impact that will attract IPs, celebrities and big brands. To unleash NFTs, thereby trying to push an already overcrowded market. According to an unnamed source, the NFT market will this year shift to client level instead of being a niche product for the cryptocurrency world.
The PhantaBears NF, which began on January 1, has become well known. First, an entire catalog of 10,000 pieces sold out within hours. Then, a few days later, the transaction volume of the collection. As a result, it is ranked higher than BAYC in the global trading volume rankings on OpenSea.
Given the Chinese market’s propensity for digital hardware, the success of Chou’s NFT collection is predictable. While the country opposes digital currencies, it recognizes the relevance of NFTs and has proposed that they be regulated independently. According to sources, the Chinese government will even help create NFTs.
NFTs are also becoming more popular in other Asian countries, such as Singapore, the Philippines, and Thailand. Southeast Asia, according to a study, will have the highest acceptance of NFTs in 2021. According to their research, the Philippines has the highest percentage of NFT owners (32%), followed by Thailand (27%) , Malaysia (24%). , the United Arab Emirates (23%) and Vietnam (23%). (17 percent)