Blockchain and NFT Market Research in Indonesia

Blockchain and NFT Market Research in Indonesia

basic introduction

• Reference: https://zh.wikipedia.org/wiki/%E5%8D%B0%E5%BA%A6%E5%B0%BC%E8%A5%BF%E4%BA%9A
• Reference: http://cs.mfa.gov.cn/zggmcg/ljmdd/yz_645708/ydnxy_648376/

• zz system: presidential system
• Language: Indonesian
• Ethnic groups: Javanese (40.6%), Sundanese (15%), Madura (3.3%), Minangkabau (2.7%)
• Religion: Islam (86.70%), Protestantism (7.60%), Catholicism (3.12%)
• Currency: Indonesian Rupiah (IDR)
• Population (2022): 2.7100 million (4th most populous country in the world)
• economy:
  • GDP: 1.35US$ Trillion (2022)
  • GDP per Capita: ~5000USD (2022)
  • The main export products are oil, natural gas, textiles and garments, wood, rattan products, handicrafts, shoes, copper, coal, pulp and paper products, electrical appliances, palm oil, rubber, etc. The main imported products are mechanical transportation equipment, chemical products, automobiles and spare parts, power generation equipment, steel, plastics and plastic products, cotton, etc.
• Capital and economic center: Jakarta , Jakarta and its surrounding areas have more than 100,000 residents 3000万and are the second largest metropolitan area in the world.
• history:
  • Dutch colonial period
  • Formally established on August 17, 1950

Development of mobile Internet

• Internet Penetration Rate:72.6%
• Indonesian Internet users exceed 196 million
• Indonesia has nearly 200 million Internet users, 190 million of whom access the Internet through mobile phones

Music performance market comparison (Thailand, Indonesia, Vietnam)

• Thailand: https://www.statista.com/outlook/dmo/eservices/event-tickets/music-events/thailand#revenue

  • Revenue in the Music Events segment is projected to reach US$112.80m in 2023.
  • Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 3.63%, resulting in a projected market volume of US$130.10m by 2027.
  • In the Music Events segment, the number of users is expected to amount to 2.90m users by 2027.
  • User penetration will be 4.0% in 2023 and is expected to hit 4.1% by 2027.
  • The average revenue per user (ARPU) is expected to amount to US$40.60.

• Indonesia: https://www.statista.com/outlook/dmo/eservices/event-tickets/music-events/indonesia

  • Revenue in the Music Events segment is projected to reach US$58.14m in 2023.
  • Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 3.13%, resulting in a projected market volume of US$65.78m by 2027.
  • In the Music Events segment, the number of users is expected to amount to 6.01m users by 2027.
  • User penetration will be 2.0% in 2023 and is expected to hit 2.1% by 2027.
  • The average revenue per user (ARPU) is expected to amount to US$10.12.

• Vietnam: https://www.statista.com/outlook/dmo/eservices/event-tickets/music-events/vietnam

  • Revenue in the Music Events segment is projected to reach US$35.40m in 2023.
  • Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 3.95%, resulting in a projected market volume of US$41.34m by 2027.
  • In the Music Events segment, the number of users is expected to amount to 2.75m users by 2027.
  • User penetration will be 2.6% in 2023 and is expected to hit 2.7% by 2027.

social media

https://www.similarweb.com/zh/apps/top/google/app-index/id/social/top-free/

• Facebook
• Instagram:
• Twitter
• TikTok

Data source: https://www.similarweb.com/zh/apps/top/google/app-index/id/social/top-free/

Public Attitudes to Blockchain

Among them, blue means: the value of NFT will be higher, and black means: the value of NFT will be sideways or lower

Local blockchain companies and entrepreneurial projects

NFT project:

• https://twitter.com/karafurunft
• https://mobile.twitter.com/mindblowonnft
• https://mobile.twitter.com/superlativess

NFT trading platform:

• BSC-based decentralized NFT trading platform: https://www.tokomall.io/

  • Blind box: https://www.tokomall.io/tokosurprise
  • Digital currency exchange: https://www.tokocrypto.com/

• Near-based decentralized NFT trading platform: https://paras.id/zh/market

• Centralized NFT collection trading platform (mainly sports NFT, legal currency payment): https://ibl.kolektibel.com/market

payment method

The payment method in the picture above

Debit/Credit Card Payment:

• Visa
• MasterCard
• JCB

virtual account?

• Mandiri: Bank Mandiri
• BNI: Bank Negara Indonesia,
• Permata Bank: Headquartered in Jakarta
• CIMB: CIMB Bank, the second largest bank in Malaysia
• BANK BRI: Bank Indonesia
• Neo-Bank: Completely online bank, no physical bank (so awesome?)

electronic wallet

• Shopee-Pay : The payment platform of the e-commerce platform Shopee, the most popular e-wallet in Southeast Asia
• OVO : OVO is one of the leading e-wallets in Indonesia, with nearly 40% of consumers in the country using e-wallets to pay for the goods and services they buy online

QRIS (code scanning payment standard)

• QRIS : QR code payment?

IDEBIT (fast payment)

• Shinhan Bank (Shinhan Bank)

National policies and regulations

• Bank Indonesia recently emphasized that cryptocurrencies are not a valid form of payment
• In Indonesia, cryptocurrencies classified as virtual currencies are still prohibited from being used as payment instruments in Indonesia.
• 20 September 2022: Indonesia tightens rules on cryptocurrencies to ensure more local control
• In Indonesia, cryptocurrencies are classified as commodities and are regulated by the Commodity Futures Trading Regulatory Agency (Bappebti) under the country’s Ministry of Trade
• Currently, the regulatory regime for NFT in Indonesia is uncertain.
• NFT platforms should be most regulated by ESPs (Electronic System Service Providers)

investment data