NFTs Are More Popular Than Ever Despite The Cryptocurrency Market Situation

Briefly:

  • Popularity of NFT in the search engine Google has grown
  • Google Trends gave her a rating 108
  • Although token trading volumes declined following the main cryptocurrencies, the chances of a quick recovery in this segment are higher

According to Google Trends, the number of searches on the topic “NFT” has peaked in the last five years. The tool gave him the highest possible rating in 108 points.

In comparison, the number of requests for BTC or Ethereum has dropped significantly. For these themes, Google Trends rated 100 points.

Google Trends

Most often, users from China are looking for information about NFT. Followed by: Singapore, Venezuela, Hong Kong and the Philippines. The most popular are Bored Ape Yacht Club and MetaMask.

Google Trends rates a query based on a sample. It determines the level of interest of users to the highest point of the generated diagram for a given point in time and place.

However, the popularity of NFT does not mean that this sector is in an uptrend. On the contrary, it has declined since the beginning of autumn following the major cryptocurrencies.

According to OpenSea, the platform reached its peak in the daily trading volume in August – 346 million dollars. In November-December, it decreased to an average value of 91 million dollars.

Over the past five weeks, the bitcoin rate has dropped by 33%. The market is in a decadent mood, with many capital holders dumping their assets. The situation was a little brightened up by the statement of the FRS chairman, after which there was a short-term jump in prices.

The rise in popularity of NFT means that this segment is perceived by the audience as separate from the mainstream cryptocurrencies. Interest from users leads to the popularization of the market as a whole and its further development.

Tokens are already firmly rooted in various fields of activity. So the wife of the ex-president of the United States, Melania Trump, launched her own NFT collection.

The “The Merge” Token Collection has broken a record for the sale of art by living artists. It was sold out for a total amount of 103, $ 8 million.

New ways to integrate NFT are looking for the social network Instagram. Brands such as Balenciaga and Adidas are already releasing clothing in the form of tokens.

All of this indicates that the market will continue to grow. That is why many experts recommend logging into it now, while it is still gaining momentum.

Is it time to create your own NFT?

Dima is a managing editor and news writer. 5 years in content management. He makes sure that only high-quality information, truthful news and interesting articles get to the site. You can contact him via @IncryptedNewsBot.

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