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The Web3 phenomenon is fundamentally decentralized. This means that, in contrast to more conventional institutions and infrastructures, it is specifically designed to work smoothly across international borders.
This quality has made blockchain-based technologies like NFTs more appealing to entrepreneurs and developers around the globe. Additionally, it has helped that ecosystem grow into a highly lucrative sector of the economy with a trade market worth billions of dollars.
With predictions predicting that the worldwide NFT market would reach an absurd $13.6 billion by 2027, the cultural and financial revolution that NFTs have caused is only anticipated to grow.
Sadly, despite their significant market impact and ongoing widespread use, NFTs continue to be a highly misunderstood and feared technical advancement. If you need evidence, simply look at the innumerable memes that show community members’ desperation at having to teach the fundamentals of Web3 tech to friends and family members who only want to screenshot that bloody JPEG.
The acceptance of NFTs internationally varies considerably because they have both produced tremendous financial success for some people and terrible financial devastation for others. The NFT landscape is littered with FOMO, FUD, and a wide spectrum of emotions, both good and bad. Despite the fact that this technology is global in scope, we rarely consider how different cultures may perceive it.
Fortunately, this is altering.
Countries with the Highest Web3 Interest
The analysis’s conclusions might come as a surprise. Singapore topped the list of nations that were most interested in Web3, with 18,717 monthly searches per million people. The top five places on that list are rounded out by Canada, Iceland, Hong Kong, and the United States.
Countries that Like and Dislike Web3 the Most
Montenegro topped the list of countries that like Web3 the most, with 862 positive posts for every 1,000 Web3-related tweets. Colombia, France, Lebanon, and Vietnam round out the list.
Of course, Web3 is not universally regarded favorably. Poland, Nicaragua, Ireland, Jamaica, and Kosovo had the highest number of negative posts per 1,000 Web3 tweets.
The Most Popular Web3 in Every Country
NFTs are the most popular trend in the Web3 universe. So the top most-searched NFT projects in the world were Axie Infinity (which was a top search result in 112 countries), Decentraland, Sorare, and Bored Ape Yacht Club. The study also looked at which projects are most popular in each country.
It’s telling that the most far-reaching and popular projects are part of the NFTs’ play-to-earn metaverse. It’s perhaps unsurprising that gamified projects performed so well globally in the early days of Web3 when compared to projects focusing solely on art or incorporating other forms of utility.
Why Countries Should Learn More about Web3
The internet has evolved dramatically over time, and it is almost unrecognizable from its early days. Given Web3’s ambition to create a truly decentralized internet, learning Web3 is a critical skill for developers.
The web and beyond benefit greatly from decentralization. Developers with unique ideas for high-quality products may populate the ecosystem.
Some of the most important implications of decentralization and blockchain technology are data ownership and compensation. It’s safe to assume that as we move toward Web3 and the technology that supports it matures and becomes more scalable, the web will revert to its original purpose.
Finally, by allowing individuals to be sovereign, Web3 will create a more equitable internet. True sovereignty entails being able to control one’s time and information, as well as who profits from it.
In the end, Web3’s decentralized blockchain protocol will enable individuals, particularly developers, to connect to an internet where they can own and be properly compensated for their time and data, eclipsing an exploitative and illegal web where massive, centralized repositories are held and profited from.
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of EGG Finance. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.