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Global search interest for 'NFT' surpasses 'crypto' for the first time ever

Cryptocurrency Dec 23, 2021 01:00PM ET
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For the week ending on Christmas, global searches for the term "NFT," which refers to nonfungible tokens, have surpassed "crypto," according to Google (NASDAQ:GOOGL) Trends. The sharp increase in search traffic for NFTs offers a clear indication that digital collectibles have entered mainstream consciousness, with transactions on OpenSea, the most popular decentralized platform for NFT auctions and drops, surpassing $10 billion.

"NFT" versus "crypto" search trends. Source: Google Trends

The huge increase in the demand for NFTs is evident across nearly all aspects of society. First, consumer brands such as Nike (NYSE:NKE) and Adidas (OTC:ADDYY) are making their own entry into the realm of metaverse NFTs. Then, celebrities such as Snoop Dog, Grimes, Steve Aoki, Mila Kunis and Melania Trump are promoting their own NFT collections to the public. Thirdly, NFT games such as Axie Infinity and Sorare make it possible for players to learn about crypto and NFTs, as well as earn a small amount of money as a side hustle while playing video games.

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Global search interest for 'NFT' surpasses 'crypto' for the first time ever
 

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