News On Japan

Japan’s NFT Market on the Rise, Expected to Reach $1.36 Billion in 2022

Dec 14 (blockzeit.com) - According to research, NFTs in Japan are on the rise. This explosion in growth has attracted businesses and organizations to partner with NFT and blockchain platforms to launch innovative products

The non-fungible token (NFT) industry in Japan is expected to grow by 53.0% annually to reach $1361.5 million in 2022, according to a new report. The report also predicts that the NFT industry will grow steadily over the forecast period, recording a compound annual growth rate of 38.7% from 2022 to 2028.

NFTs are a new type of crypto-asset that represent digital items, such as images and videos, or even clothing for avatars. These digital assets went into popularity over the last four to eight quarters globally.

NFTs allow investors to prove ownership of unique digital assets such as BAYC pictures and in-game items. While NFTs are not new, with the first ones being launched in the mid-2010s, the latest figures create a dilemma of whether the bubble will burst or not, as weekly NFT sales have plummeted around the globe. ...continue reading

POPULAR NEWS

or as long as Shohei Ohtani plays for the Dodgers -- which will be at least for the next decade -- May 17 will be known as “Shohei Ohtani Day” in Los Angeles County. (MLB)

Two residents of Sapporo who died earlier this month likely succumbed to food poisoning caused by mistakenly consuming toxic autumn crocus, according to the Sapporo City Health Department. The department confirmed on May 17 that the deaths were indeed due to poisoning from this plant.

A revised Civil Code introducing 'joint custody' for children after divorce has been passed by the Diet. This marks the first time in 77 years that Japan has reviewed the approach to post-divorce custody.

Tokyo Metropolitan Police have arrested three leaders of the political group 'Tsubasa Party' on suspicion of violating the Public Offices Election Act by disrupting the speeches of other candidates during a House of Representatives by-election in Tokyo's 15th district. Investigators view this as a "challenge to democracy" and plan to pursue a thorough investigation.

An event allowing visitors to experience life in 2050 has launched in Tokyo, including an elevator which enables transportation to space via a cable extending from a satellite to Earth.

FOLLOW US
         

MORE Business NEWS

The Umeda area in Osaka is seeing a surge in high-rise apartment construction, including a 49-story residential skyscraper south of JR Osaka Station.

Japan's National Police Agency revealed on May 16 that the amount of money lost to impersonation investment scams on social media totaled 21.9 billion yen in just three months from January to March this year.

The president and seven employees of The Grand Shield, previously featured in Japanese media due to financial troubles with dental braces, have been arrested for selling high-yield bonds without registration, promising annual returns of 20%. It is believed that two women among the suspects collected 4.6 billion yen alone.

Japan's real GDP growth rate for the first quarter of this year, from January to March, was announced by the Cabinet Office to be an annualized minus 2.0%.

Businessman Yusaku Maezawa has filed a lawsuit against Meta, the company operating Facebook, seeking 1 yen in damages in response to a series of investment scams involving impersonation of famous personalities on social media.

As the Japanese government begins discussions on the basic policies for its energy strategy, Tokyo Electric Power Company (TEPCO) has constructed a new substation and other infrastructure in Inzai City, Chiba Prefecture, to address the increasing power consumption of data centers.

Honda Motor says it will invest 10 trillion yen or roughly 65 billion dollars in electric vehicles and software for self-driving technology through fiscal 2030. (NHK)

The Japan Chamber of Commerce and Industry in China has released the results of a survey targeting Japanese companies operating in China, revealing that over half of them report worsening sales trends.