For the week ending in Christmas, global searches for the term “NFT,” which refers to non-fungible tokens, have overtaken “cryptocurrencies,” according to Google (NASDAQ 🙂 Trends. The sharp increase in NFT search traffic offers a clear indication that digital collectibles have entered mainstream awareness, with transactions on OpenSea, the most popular decentralized platform for NFT auctions and launches, topping $ 10 billion.
- Cointelegraph Consulting: Is OpenSea an Undervalued NFT Marketplace?
Search trends “NFT” versus “cryptocurrencies”. Source: Google Trends The huge increase in demand for NFT is evident in almost every aspect of society. First, consumer brands like Nike (NYSE 🙂 and Adidas (DE 🙂 are making their own entry into the NFTs of metaverses. Then celebrities like Snoop Dog, Grimes, Steve Aoki, Mila Kunis and Melania Trump are promoting their own NFT collections to the public. Third, NFT games like and Sorare allow gamers to learn about cryptocurrencies and NFT, as well as earn a small amount of money as an added hustle while playing video games.
- Nike has entered the metaverse game following the acquisition of RTFKT
In addition, the proceeds from NFT auctions could also go to non-profit organizations or charities, such as building a school for children in Uganda. Not only can cryptocurrency holders obtain beautiful works of art, but in the United States they can also deduct their donations from their ordinary income to save on taxes, resulting in a mutual benefit for all. Lastly, NFTs make it possible for artists around the world to spread their talents without the need for physical exhibits. One such example is Mongol NFT, which brings the stories of nomadic horsemen and the history of the steppes to the blockchain.
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