The digital asset market in Asia, specifically the Non-Fungible Tokens (NFTs), is facing a challenge with their "digital first sale" process, according to First Mover Asia.

On the first day of March, several China-based tokens experienced a decline in their value as the Asian market opened. Neo, which is a part of China's national Blockchain Service Network, saw an approximate 8% drop, while Conflux's CFX token, unique because it's used by China dApp developers, saw a 12.5% decline, and Filecoin's FIL token fell by 5.5%. According to CoinGlass data, short interest in these tokens is increasing, with NEO evenly split between longs and shorts, while CFX has majority shorts at 52.71%. Meanwhile, bitcoin and ether also opened the day with declines of 1.3% and 1.4%, respectively. Traders are keeping an eye on initial jobless claim numbers, which will be released on Thursday, and are concerned about a lack of market liquidity that could impact everything from price fluctuations to token launches being delayed.