Search queries for “NFT” and “non-fungible token” became even additional well-liked than searches for “Dogecoin”, “blockchain” and even “Ethereum.”
Google’s keyword search information shows interest in nonfungible tokens (NFTs) has surged to record levels, with traffic beating out search terms pertinent to several crypto assets graded among the highest 10. According to Google Trends, interest in NFTs saw a dramatic spike at the beginning of the year as spruce Labs’ NBA prime Shot and vintage Ethereum-based NFTs saw frenzied speculation. While the bubble at first appeared ephemeral — with search volume evaporation by roughly 75% as of the tip of June, interest began to improve in July before breaking into new highs at the tip of October.
Since then, Google search traffic for NFT-related keywords has continued to surge, doubling over the past 3 months. The spike in interest has seen “NFT” overtake several keywords that have long-dominated crypto-related search traffic, as well as “DeFi,” “Ethereum,” and even “blockchain.”
While Dogecoin firmly captured the public’s imagination during the second quarter — with search volume for “Dogecoin” rising to rival “Bitcoin” in early might, dog-token fever quickly subsided within the third quarter. As such, the Google Trends knowledge suggests the momentum behind the canine-coin rally was straightaway channeled into a plug for NFTs.
NFT-mania sweeps Asia
According to Google Trends, NFT search traffic is presently dominated by Asian nations, with China, Uganda, Singapore, port, and therefore the Philippines topping the keyword’s search rankings. China’s search volume for ‘NFT’ peaked between September 5 to 11 this year. The month before the spike, Chinese school conglomerate Tencent launched its NFT trading platform Huanhe and Alibaba launched a marketplace permitting users to trade licenses to form NFTs from proprietary content. However, the Chinese political party free a series of statements denouncing NFTs via official state media publication The People’s Daily on Sept. 10, doubtless prodding the retracement in search volume since.
(Keira Wright, Cointelegraph,2021)