The hype is real - worldwide search queries for "NFT" surpass "Crypto" for the first time

Cointelegraph Research predicts that non-fungible tokens will gross in just under $ 17.7 billion by the end of 2021.

In the last seven days up to Christmas, Google searched for the term “NFT”, which means the currently hyped Non-Fungible Tokens, than for “Crypto” (“crypto currencies”). The significant increase in search queries for NFTs shows that the "crypto collectibles" have now arrived in the mainstream. So it is no coincidence that the transaction volume on the market-leading NFT platform OpenSea is now more than USD 10 billion.

The increased interest in the asset class runs through almost all layers of society. Not only are large private-sector brands such as Nike and Adidas joining the NFT metaverse, but celebrities such as Snoop Dog, Grimes , Steve Aoki , Mila Kunis and Melania Trump are also launching their own NFTs. Blockchain video game makers like Axie Infinity and Sorare are meanwhile struggling to establish crypto and NFTs in the gaming industry .

In addition, NFTs do not just serve as a mere means of speculation, because the profits from the corresponding auctions are sometimes used for charitable purposes , which gives abstract crypto art a very real value in an immediate way. In the US, NFT donations have recently become tax deductible , which makes the technology all the more interesting in this regard. Last but not least, NFTs still offer an increasingly important platform for artists who can make their art accessible to a broader public.

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