The percentage of people who own a non-fungible token (NFT) in the United Arab Emirates is more than double the global average, according to a survey of 28,000 people conducted by finder.com.
According to the survey, which polled 1,004 people in the country, 23 percent of people in the UAE own at least one NFT.
The average rate of NFT ownership around the world was found to be 11.7 percent.
The UAE ranked fourth-highest in the list, behind the Philippines (32 percent), Thailand (27 percent), and Malaysia (24 percent).
NFT ownership was found to be higher in lower-income countries, with the UAE a notable exception.
The US was second-last on the list with only 2.8 percent of Americans owning NFTs.
Almost half (43 percent) of the people surveyed from the UAE knew what NFTs were and 11.5 percent planned to own them in the future.
Men in most countries surveyed were more likely to own NFTs than women, with the exception of Thailand and Venezuela.
NFTs are digital assets that are linked to public blockchain ledgers in order to verify their scarcity and prove that they cannot be reproduced.
A number of NFT marketplaces list various digital items for sale, which can be anything from photographs and artwork to video game items.
In March, a digital artwork by the name of Every Day – The First 5,000 Days by an artist called Beeple sold in a Christie’s auction for $69.3 million, believed to be one of the most expensive NFT sales at the time.