In human visual system the spatial resolution of a scene under view decreases uniformly at points of increasing distance from the point of gaze, also called foveation point. This phenomenon is referred to as foveation and has been exploited in foveated imaging to allocate bits in image and video coding according to spatially varying perceived resolution. Several digital image processing techniques have been proposed in the past to realize foveated images and video. In most cases a single foveation point is assumed in a scene. Recently there has been a significant interest in dynamic as well as multi-point foveation. The complexity involved in identification of foveation points is however significantly high in the proposed approaches. In this paper, an adaptive multi-point foveation technique for video data based on the concepts of regions of interests (ROIs) is proposed and its performance is investigated. The points of interest are assumed to be centroid of moving objects and dynamically determined by the foveation algorithm proposed. Fast algorithm for implementing region based multi-foveation processing is proposed. The proposed adaptive multi-foveation fully integrates with existing video codec standard in both spatial and DCT domain.