Popular terms related to the cryptocurrency world have seen a massive increase in interest over the first few months of 2021. ‘NFT,’ ‘Cryptocurrency,’ ‘Blockchain, and ‘DeFi’ have all had pretty impressive gains on Google in 2021. This is after remaining at a pretty low-interest level in 2020.
The biggest growth among these has been for Non-Fungibletokens. While interest in NFT was almost non-existent last year, significant increases were seen from the end of January 2021.
‘NFT’ initially surpassed ‘DeFi’ at the beginning of February before taking over ‘blockchain’ later in the month. ‘Cryptocurrency’ held strong until the beginning of March.
‘Cryptocurrency’ has also been seeing a massive rise in Google search hits during February.
As expected, this week ‘NFT’ reached an interest mark of 100, meaning it has reached peak popularity for the term. This is a new all-time high for the term.
Breakout-related searches include NFT marketplace, NFT crypto art, and Beeple. This is a new development as previous breakout searches mainly revolved around querying what an NFT was.
The growth in interest in these tokens was expected to have this knock-on effect for searches. Google is the first port of call for those wanting to learn more about a topic they don’t understand.
NFT Hack Keeps Tokens in the Spotlight
Initially, million-dollar sales and celebrity involvement were keeping the interest in NFTs up. Social media users argued over their real versus imagined value, and major tech personalities got in on the new trend.
Record-breaking sales were happening every other day through February. The most recent being the $69 million auction of artwork by digital artist Beeple. This even had institutional backing from Christie’s auction house.
However, in the last week, a hack at a major NFT marketplace, Nifty Gateway, has brought some negative attention to the market.
This incident showed how valuable and vulnerable these digital art pieces could be.