Crypto

Searches for “NFT” outperform “CRYPTO” for the first time

Google’s global search interest for ‘NFT’ overtakes ‘CRYPTO’ for the first time

For the week ending Christmas, global searches for the term “NFT,” which refers to non-fungible tokens, topped “CRYPTO,” according to Google Trends. The sharp increase in NFT search traffic is a clear sign that digital collectibles have entered mainstream consciousness, with transactions on OpenSea, the most popular decentralized platform for auctions, and NFT drops, topping $ 10 billion. .

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Non-fungible token (NFT) sales could eclipse $ 17.7 billion by the end of 2021, according to Cointelegraph Research.

Google searches “NFT” vs. “CRYPTO”

Source: Google Trends

The huge increase in demand for NFT is evident in almost every aspect of the business. First, major brands like Nike and Adidas are making their own entry into the NFT metaverse realm. Then celebrities like Snoop Dog, Grimes, Steve Aoki, Mila Kunis, and Melania Trump promote their own NFT collections to the public. Third, NFT games like Axie Infinity and Sorare allow gamers to learn more about cryptocurrencies and NFTs, as well as earn a small amount of money as a side activity while playing video games.

In addition, the proceeds from NFT auctions could also go to non-profit organizations or charities, such as building a school for children in Uganda. Cryptocurrency holders can not only get beautiful works of art, but in the United States they can also deduct their donations from their regular income to save on taxes, which is beneficial to everyone. Finally, NFTs allow artists around the world to showcase their talents without the need for physical displays. One example is the Mongolian NFT, which brings nomadic horseman stories and the history of the steppes to the blockchain.

Par Zhiyuan Sun, Cointelegraph

Zhiyuan Sun is a technology writer at Cointelegraph. He first trained in mechanical engineering in college, and quickly developed a passion for cryptocurrencies and finance. He has several years of experience writing for major financial media such as The Motley Fool, Nasdaq.com, and Seeking Alpha. When he is away from his compound, he can be found in his deep sea diving equipment.

The opinions expressed here are solely those of the author and do not necessarily reflect the views of Forex Quebec. Every investment and business move carries risk, you need to do your own research when making a decision.

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Disclaimer: The information and opinions in this report are provided for general information only and do not constitute an offer or a solicitation to buy or sell currency or CFD contracts. Although the information contained in this document has been taken from sources considered reliable, the author does not guarantee its accuracy or completeness, and does not assume any responsibility for any direct, indirect or consequential damages that may result from the fact that someone trusts such information.

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