NFTs in Japan: Key Projects and Features

The NFT market in Japan began with collaborations between anime and national idol groups and now focuses on cultural affinity that has become a strong support for Japanese NFT projects.

Main Aspects to Consider:

The Japanese NFT industry has three distinctive characteristics: extensive intellectual property (IP), a low rate of fear, uncertainty and doubt (FUD), and a tight-knit community that encourages collaboration and synergy.

Three major Japanese NFT projects are Murakami Flowers , Crypto Ninja Partners , and MetaSamurai .

Japan not only has a rich history in video games, but it also has the largest amount of IP in the world. The popularity of Japanese IP transcends borders, making it a global phenomenon.

For example, popular anime like Naruto, Dragon Ball, and Attack on Titan have millions of fans around the world, which has led to a thriving industry and a strong foundation for digital art.

Because of this, the Japanese NFT community has its own unique aesthetics and preferences that set it apart from other regions of the world.

If you are interested in learning more about the Japanese crypto market , you can access the full report here: Crypto in Japan : Major Sectors , Industrial Trends and Future Outlook .

The Unique Trajectory of NFTs in Japan

A non-fungible token (NFT) is a unique digital asset that cannot be replaced or exchanged for anything else. It is stored on a blockchain, allowing ownership and authenticity to be proven.

Since early 2018 , non-fungible tokens (NFTs) have been a hot topic in the Japanese crypto industry. With the global NFT craze in 2021, they have become increasingly popular and more accepted.

The evolution of NFTs in Japan has taken a unique trajectory, often independent of global trends. In the collections space, the market began with collaborations between animes and domestic idol groups, using existing IP content as a base and focusing on fan communities. This led to a situation where Japanese NFTs rarely transcended borders.

However, after the arrival of Bored Ape Yacht Club (BAYC), collection-style NFTs gained prominence. Specifically, Murakami Flowers became the first project to gather a headline base that extended beyond Japan. Given Murakami’s global renown through collaborations with luxury brands such as Louis Vuitton and Hublot, and considering that his activities were not limited to Japan, his project served as a catalyst for Japanese NFTs to gain global attention.

The Japanese have a deep love for their culture and art, which naturally supports local projects. For example, Takashi Murakami creates NFTs that express Japanese culture. This cultural affinity has proven to be a natural source of support for local blockchain projects.

We can also see the increase in adoption in the local Japanese community. The “Furusato Nozei” is a tax system in Japan that allows taxpayers to donate a portion of their taxes to a chosen local municipality, in exchange for local specialties as a token of appreciation.

Recently, some municipalities have started offering NFTs along with different specialties. This approach is specific to Japan and is fostering the fusion of rural revitalization and digital art, demonstrating potential that leverages Japan’s unique aesthetics and local resources.

Overall, there are 3 key characteristics of the Japanese NFT industry:

Rich IP : The Japanese crypto gaming industry benefits from a wealth of intellectual property, including popular anime, manga, and video game franchises that can be used to create attractive NFTs.

Low FUD : The Japanese crypto gaming community has a low rate of fear, uncertainty and doubt, probably due to the cultural tendency to avoid direct criticism and express dissatisfaction. This is particularly evident among NFT beginners and community members with little influence.

Concentrated Community : The Japanese crypto community is small, which encourages collaboration and a common purpose, leading to more effective community building and synergy.