With non-fungible tokens (NFTs) appearing to be the next big thing in the crypto space, Google Trends data show that the number of searches for ‘NFT’ has spiked significantly since the beginning of the year.
Google Search Trends are mostly used to determine the amount of public interest in a particular topic within specific periods. It reveals the volume of searches, which is in a range of 0 to 100.
In January 2021, the number of searches for ‘NFT’ was one. Fast forward to today, the volume has spiked to 100, indicating that more retail users are interested in the subject.
According to the data, the number of queries for the topic has increased by 100% since January 2021. Related search terms, including NFT marketplace, Beeple, NFT stocks, Beeple NFT, NFT Crypto Art have also been on the breakout.
Also, the top five countries where the queries came from include Rwanda, China, Uganda, St. Helena, and Canada.
The Massive NFT Craze
The Google Trends stats for NFT corresponds with the fuss around the topic. 2021 is regarded as the best year for crypto-based on the major feats recorded, including the massive institutional interest in digital currencies, as well as the growth of NFTs.
A non-fungible token popularly called NFTs are digital files with verifiable identities on the blockchain, which can be bought and sold, like other properties. However, NFTs are different from physical properties because they are intangible.
Creators of different content such as artwork, music, video game items, among others, can upload digital files of the original work on an auction market.
Owners of an NFT get a virtual certificate, confirming their digital ownership of the item.
While the NFT is not restricted to only the owner of the token, it can be bought and resold with cryptocurrency, as the owner pleases.
NFTs first started with the sale of video game items but have expanded into other sectors, especially art.
Last week, the Bepple art was sold for a whopping $69 million, a bargain that saw the buyer acquire a digital file of 5,000 collage and a complex legacy of greenhouse gas emission.
The interest in NFTs has continued to soar as headlines are being circulated online of million-dollar sales conducted regularly.
Affiliate: Get a Ledger Nano X for $119 So That Hackers Won't Steal Your Crypto!