# 2. Background
The current crypto asset market is rapidly growing. The global blockchain market size is expected to grow at an annual average rate of 68.4%, from $4.9 billion in 2021 to $67.4 billion in 2026.
The blockchain market has created an environment where the market can rapidly expand at any time, as traditional financial institutions such as the world's largest hedge funds, asset managers, US pension funds, and banks are rapidly investing in the sector.
The NFT market is growing even faster than the blockchain market within the blockchain ecosystem. While the traditional financial sector has been paying attention to the blockchain market, many other industries have been focusing on NFTs.
The blockchain market in the Asia region is also steadily growing. South Korea is the fastest to adopt the overall market trends, and legal preparations are expected to be proactively completed. Although the Japanese market is slowly applying global trends, it will continue to accommodate trends due to its large market volume. As the technology and systems of other countries are in place, China is also opening up the blockchain market through Hong Kong.
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