As evidence that the recent craze for non-fungible tokens (NFT) has gotten into new heights, Google has seen a sharp rise in searches for the term “NFT” in comparison to “DeFi.”
Available information shows that the search for the term began picking up around the early period of this year as it continued to witness an increase deep into the second month of the year too. Google trend data has also predicted that the term could reach an interest mark of “100” by March 13. This indicates that the crypto sector would witness its peak popularity by then.
On the other hand, DeFi —the darling of the crypto sector in 2020– has been left far behind by the “NFT craze.” The field only witnessed a relatively small peak during the early periods of the year before witnessing a rapid decline in its interest rate on Google.
The most commonly searched phrases include: “What is NFT Crypto? What are NFT Coins? How do NFT’s work?” This means that crypto enthusiasts are interested in knowing how this space works and how they can take advantage of the burgeoning field.
While there is no denying that the art centered crypto space has enjoyed great success in recent time, it has been majorly fueled by the entrance of superstars like Beeple, Grimes, Mark Cuban and basketball players who have talked up the importance of the field to art and the collectible world generally. Another reason for the interest is the record-breaking sales that have been recorded in the field too. Notably, we reported the sale of Beeple’s digital art work on Christie for almost $70 million.