Ronin Integrates Ethereum, Polygon, and BNB Chain on Gaming Wallet

Vietnam’s Crypto Craze: Report Shows Over 16.6M Holders and Surprising BTC Dominance

According to the report titled “Vietnam Crypto Market Study 2022,” there are roughly 200 active blockchain projects within Vietnam.

Moreover, the ASEAN region’s second-largest number of cryptocurrency holders, with over 16.6M, is in Vietnam. Bitcoin is owned by 31 percent of these holders, placing the country behind Thailand in terms of volume. GameFi, DeFi, NFT, Web3, Infrastructure, and Crypto Wallet are the primary focus areas for ongoing blockchain initiatives in Vietnam.

Gaming dominates Vietnam’s blockchain

The study results indicate that gaming and metaverse initiatives account for 28.8 percent of the total number of blockchain projects established in Vietnam. In addition, 26.0 percent of the efforts are associated with decentralized financial systems. Among the initiatives related to decentralized economic systems are Kyber Network and Rikkei Finance, amongst others.

It was reported that 12.4 percent of the total projects were associated with NFT, with examples including Axie Infinity, DareNFT, Spores, and Titan Hunters. Furthermore, there were 11.3 percent of initiatives focused on infrastructure, with projects such as TomoChain and SotaTek being some examples. Finally, among other things, Web3 projects made up 5.1 percent of the total.

Seven of the leading blockchain startups in the world were started by entrepreneurs from Vietnam. These companies are ranked among the top 200 worldwide. These enterprises have a considerable effect on the worldwide market, as shown by the combined market value of more than ten companies, which is more than one hundred million US dollars.

Token triumphs, gaming frenzy

Three of these firms formerly had a total token market valuation of over one billion USD. Moreover, according to data.ai, the typical Vietnamese spend 3.9 hours per day playing games, 10 percent more than the US.

Additionally, Vietnam has five top ten positions on the top ten lists of prominent gaming publishers in Southeast Asia, Australia, and New Zealand (ANZSEA). GameJam, VNG, OneSoft, Arrasol, and Amanotes are some companies ranked among the top five largest game publishers.

All trademarks, logos, and images displayed on this site belong to their respective owners and have been utilized under the Fair Use Act. The materials on this site should not be interpreted as financial advice. When we incorporate content from other sites, we ensure each author receives proper attribution by providing a link to the original content. This site might maintain financial affiliations with a selection of the brands and firms mentioned herein. As a result, we may receive compensation if our readers opt to click on these links within our content and subsequently register for the products or services on offer. However, we neither represent nor endorse these services, brands, or companies. Therefore, any disputes that may arise with the mentioned brands or companies need to be directly addressed with the respective parties involved. We urge our readers to exercise their own judgement when clicking on links within our content and ultimately signing up for any products or services. The responsibility lies solely with them. Please read our full disclaimer and terms of use policy here.

Leave a Reply

Your email address will not be published. Required fields are marked *