INDUSTRY ANALYSIS

Indonesia Global Leaders in Crypto Adoption

As blockchain continues to grow as a global phenomenon, industries all around the world are constantly looking for more ways to incorporate this revolutionary technology inside their core offering. Crypto gaming has become a free market for exciting innovations in the space. And with new games come new in-game mechanics and economic models. Legacy game developers are still struggling to understand this foreign paradigm. With NFTs and play-to-earn incentive structures, blockchain gaming shows us new innovative features that could easily precede the widespread adoption of blockchain technology in gaming and beyond. Every day, developers are inventing new methods to leverage cryptocurrency so players can purchase and trade characters, in-game items, cosmetics etc. inside the digital economies of their games. That's how crypto gaming has become one of the biggest movements in the blockchain world, as well as bringing together three flourishing industries: gaming, crypto and finance.

Crypto assets ownership in Indonesia was among the highest globally as many investors in the country look at digital assets as a protection against future inflation, according to a study by crypto exchange Gemini published on Monday.

The study, titled "Global State of Crypto Report," found that 41 percent of Indonesians, aged between 18 and 75 years old with an income of more than $14,000 per year, own crypto assets. The country shared the top spots with Brazil among the 20 countries surveyed by Gemini.

Furthermore, the study found that 61 percent of Indonesian respondents agree with the notion that crypto is the future of money. Compared to 23 percent in developed countries lithe the US, France, and Germany.

The number of crypto investors in Indonesia has doubled in the past year alone to more than 12 million people, according to data from Commodity Futures Trading Regulatory Agency (Bappepti). In comparison, Indonesia's number of stocks market investors was just north of 7 million.