Jou Chou, a prominent Chinese musical performer, has suggested that one of his previous songs may be auctioned off. Jay Chou announced on his Instagram account. Under the handle NFT, he disclosed in the discussion that he’d be auctioning off his popular song DEMO. The auction will be held under JBL’s auspices.
Aside from that, Chou reveals that he has several NFT collaborations. In addition, according to rumors, the Chinese government would promote the growth of NFT.
The artist also announced that he is working on a new music album called The fashion brand Chou PHANTACi and various other NFT endeavors. In the Phanta Bear NFT collections, this industry has released 10,000 NFTs.
Chou’s entry, as per sources, will start creating a celebrity impact that will entice IPs, celebrities, and major brands. To release NFTs, thereby trying to push an already overcrowded market. According to an anonymous source, the NFT market will transition to the customer level this year instead of being a niche product for the world of cryptocurrencies.
The PhantaBears NF, which began on January 1, became well-known. First and foremost, a whole 10,000-piece catalog was sold out within hours. Then, a few days later, the collection’s transaction volume. As a result, it is ranked higher than BAYC in the world rankings for transaction volume on OpenSea.
Given the Chinese market’s propensity for digital material, Chou’s NFT collection’s success is predictable. While the country opposes digital currencies, it recognizes the relevance of NFTs and has proposed that they be regulated independently. According to sources, the Chinese government will even help to create NFTs.
NFTs are also becoming more popular in other Asian countries, such as Singapore, the Philippines, and Thailand. Southeast Asia, according to one research, will have the highest acceptance of NFTs in 2021. According to their research, the Philippines has the greatest percentage of NFT owners (32%), followed by Thailand (27%), Malaysia (24%), the United Arab Emirates (23%), and Vietnam (23%). (17 percent )
Source: https://www.cryptonewsz.com/jou-chou-a-music-legend-in-china-will-auction-his-song-for-nft/