Folklore on the Blockchain: Vietnam’s Cultural Crypto Renaissance
The rise of folklore-driven crypto coincides with Vietnam’s attempt to formalise a once-wild digital frontier. In 2025, the country ranked fourth globally in cryptocurrency adoption, according to Chainalysis, with an estimated 17 million participants and household ownership surpassing 20 percent—well ahead of regional peers like Indonesia and Thailand. Earlier surveys placed Vietnam among the top three nations for NFT ownership, at roughly 17.4 percent of adults.
Until recently, this creative boom unfolded in a legal vacuum. Cryptocurrencies remained non-legal tender, and NFT platforms operated without oversight. That changed in September 2025, when the government adopted the law launching a five-year pilot licensing regime for…
