Japanese NFT News: 2022/08/19

As the market awaits the upgrade of the Ethereum network, the global NFT market has struggled to recover. However, the Japanese NFT space is making steady progress by attracting potential buyers.

The main news that you should know this week is:

  • The launch of the NFT purchase service, Pie
  • An influencer entering the NFT space

Launch of the NFT purchase service, Pie

Pie allows users to purchase NFTs listed on OpenSea using credit cards. The service has launched this week and the news attracted the attention of both NFT buyers and providers in Japan.

So far, the complication of the NFT purchasing process has discouraged Japanese potential buyers, and the market has struggled to grow in size. In addition, the risk-averse nature and limited English skills of average Japanese investors have made it even harder for the NFT market to grow.

Although users have to pay fees to Pie, there are advantages to using the platform, especially for new NFT buyers because:
  • You can purchase NFTs without owning ETH
  • You don’t need to open a crypto exchange account like Binance or Coinbase
  • Only reputable collections are available on Pie – less risk of scams

Examples of collections available: Moonbirds, Clone X, Murakami Flowers, and CryptoNinja Partners

The service has just started, so we are yet to see its effect.
But I think a service like Pie could be the catalyst for bringing more Japanese buyers into the NFT market in the long run. I’ll keep you updated on its progress!

An Influencer entering the NFT space

Another exciting piece of news is that Yoshihito Kamogashira has purchased his first NFT and announced that he would start getting involved in the market.  Kamogashira is one of the top business & career influencers with over 1 million subscribers in Japan on YouTube.

I think his Clone X really looks like him!
Many of his followers are business owners in their forties and fifties – the demographic which has the potential to help expand the Japanese NFT market substantially.
We will wait and see what types of projects Kamogashira starts in the near future.
A lot of work needs to be done to grow and establish the NFT market in Japan. This week’s news shows that progress is being made, and hopefully, we will start to see the effect in late 2022/early 2023!

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  • Pre-sale: 20 August
  • Public sale: 21 August
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  • Pre-sale: 28 August
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The content is for informational purposes only. Investment/financial opinions expressed by Web3 Zen.com are not recommendations. As always, please do your own research prior to making any investment decisions.



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