DUBLIN–(BUSINESS WIRE)–the report “Indonesia NFT Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on NFT Investments by Key Assets, Currency, Sales Channels – Q2 2022” has been added ResearchAndMarkets.com’s Offering.
The NFT industry in Indonesia is expected to grow by 50.8% YoY to reach USD 2367.6 million in 2022.
The NFT industry is expected to grow steadily over the forecast period, registering a CAGR of 35.8% during 2022-2028. The NFT use value in the country will increase from USD 2367.6 million in 2022 to reach USD 13394.7 million by 2028.
The digital economy is moving in the direction of Web3.0, Metaverse and Decentralized Autonomous Organizations (DAO). As a result, artists from all walks of life are taking advantage of the growing momentum to enter this free-for-all creative space. Over the past 12 months, NFTs have allowed creators to have full control over their content and have significantly pushed the interaction with their communities.
In Indonesia, artists are increasingly entering the NFT space as they continuously seek new ways to grow and utilize their talent. In particular, Art Moments Jakarta, one of the early adopters in the NFT space, has fully supported the Indonesian digital economy by taking a hybrid live-online approach to the exhibition in 2021. This Art Moments Jakarta event brought together a community of more than 64 local and international artists, curators and galleries.
With the NFTs steadily gaining momentum and popularity in Indonesia, the government has also shown interest in investigating the existence of blockchain technology. The issuer expects a more robust set of regulatory guidelines for the NFT sector in Indonesia in the short to medium term.
Making the general public familiar with blockchain-based services and NFTs is expected to drive market growth in Indonesia
The adoption of cryptocurrencies, NFTs and blockchain is expected to become more widespread in Indonesia’s next two to three years. While digital literacy will also increase with NFT investment and use, familiarizing the general public with blockchain-based services and NFTs is important, given that Indonesians are relatively new to the technology.
Influencers and celebrities have started to create their NFT projects in Indonesia
In the booming NFT trends in the country, influencers and celebrities have started creating their NFT projects as they try to monetize their work and create new streams of income.
Syahrini, an Indonesian singer and socialite, is one of the celebrities in the country who created the NFT project and gained great popularity globally. Under Princess Syahrini, she created and launched the NFT collection on the Binance NFT marketplace. The NFT collection sold out within eight hours of its launch on the Binance NFT marketplace.
Luna Maya, another prominent figure in the Indonesian entertainment industry, created an NFT project. Luna Maya entered into a strategic partnership with Tokau, the Japanese art firm with NFT experience. The NFT collection was launched on the BakerySwap NFT marketplace.
Influencers and celebrities don’t just create their own NFT collections. But they also actively promote various NFT projects
Actor Brandon Salim, renowned Indonesian chef Arnold Poernomo and influencer known as Jejouw promoted one of the most successful NFT projects in the country, Karafuru, which also went global. As of April 2022, the NFT project had a trading volume of 37,200 Ether.
Cryptocurrency exchanges are organizing NFT fundraising campaigns to fight the Covid-19 pandemic in Indonesia
Globally, brands and businesses have found more innovative NFT use cases. From using NFTs as a promotional tool to create brand awareness to using the digital assets to raise money for a noble cause. In Indonesia, similar trends are visible where cryptocurrency exchanges are organizing NFT fundraising campaigns to fight the global pandemic.
Tokocrypto, one of the leading cryptocurrency exchanges in the country, partnered with Aldi Haryopratomo – former CEO of GoPay, Evan Tan – the NFT collector, and William Tan – NFT creator of Art Blocks NFT, and chef Arnold Poernomo to organize the NFT fundraiser in Indonesia.
Startups use new Blockchain 5.0 technology to launch NFT marketplace in Indonesia
Innovation in blockchain technology has fueled the growth of the NFT industry in Indonesia. In particular, startups are using the new Blockchain 5.0 technology to launch an NFT marketplace in the country.
In March 2022, Relictum Pro, the digital world of applications, announced the launch of Relictum NFT in Indonesia. In particular, Relictum NFT is a public marketplace where users can choose any token format. The marketplace has been developed and launched on the new Blockchain 5.0 Relictum Pro technology. Relictum has also introduced a stablecoin – USDR – which is expected to compete with USDT in support of global trade, according to the firm.
scope
This report provides an in-depth, data-centric analysis of the NFT market in Indonesia and below is the summary of key market segments:
Indonesia NFT market size and future growth dynamics by key performance indicators, 2019-2028
Indonesia NFT Market Size and Forecast by Key Asset, 2019-2028
-
Collectables and art
-
Property
-
Sport
-
Gaming
-
Benefit
-
Fashion and luxury
-
Other
Indonesia NFT Market Size and Forecast by Key NFT Collectibles, 2019-2028
-
Digital art
-
Music and sound clips
-
Videos
-
Memes and Gifs
-
Other
Indonesia NFT Market Size and Forecast by Currency, 2019-2028
-
Ethereum
-
Solana
-
Avalanche
-
Polygon
-
BSC
-
Flow
-
Wax
-
Ronin
-
Other
Indonesia NFT Market Size and Forecast by Sales Channel, 2019-2028
Indonesia user statistics, 2019–2028
For more information on this report visit
