Global Interest in NFTs Surges 426% in just One Month

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By Nath Cajuday

Analytics firm Blockchain Centre’s analysis on Google Trends revealed that worldwide interest in non-fungible tokens (NFTs) rose by 426% for August 2021.

As of August 1, 2021, the number of Google searches for the keyword “how to buy NFT” was 19, then rose to 100 by August 29, 2021.

The numbers reflect search interest relative to the chart’s highest point based on a specific location and time period. Search interest is measured in points, with 100 being the highest and 0 being the lowest.

According to the research data analyzed and published by Wette.de, the global NFT market has a market capitalization of $43.08 billion as of October 25, 2021 and has a trading volume of around $3.6 billion. (Read More: Filipino NFT Artist Profiles: Sevi Loves Art)

2021 is a prosperous year for the NFT market, weekly NFT sales shows that it has a flexible range – between $10 million and $20 million.

However, the globe witnessed “wild weeks” in NFT sales, as the weekly trading volume rose from $50 million by the end of April to about $200 million by the end of May. An incredible 300% rise.

Before 2021, only a small number of investors believed that NFTs could provide large returns for investors, yet this year proved its market’s versatility as it offered different varieties of items such as digital art, virtual real estate, in-game creature, sports, fashion, music, memes, etc.

Recently, market tracker DappRadar showed that the sales volume of non-fungible tokens (NFTs) rocketed to $10.7 billion in the third quarter (Q3) of 2021 alone, from $1.3 billion in second quarter (Q2) and $1.2 billion in first quarter (Q1). Bringing a total $13.2 billion (around Php 665 billion) for NFT sales in 2021. (Read more: NFT Art Sales Hit $3.5 Billion as of 2021 Q3 – Report)

And as NFT reached 100 points in terms of search interest in Google, online magazine, The Economist, lately declared that ‘NFT’ is a sure candidate for 2021 word of the year. (Read more: ‘NFT’ a Sure Candidate for 2021 Word of the Year – The Economist)

As of today, Beeple still ranks first on the list of top NFT artists with a total artwork value of $145.03 million, according to Cryptoart.io.

Beeple or Mike Winkelmann in real name has already sold 1,346 artworks with an average sale of $107,752 according to Cryptoart.io.

He also holds the priciest NFT artwork that has been sold – “Everydays—The First 5,000 Days” for $69 million.

Last March, data from The Block stressed that user count on NFT platforms already crossed 450,000.

This article is published on BitPinas: Global Interest in NFTs Surges 426% in just One Month

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