Searches for NFTs on Google grew by 1,000% last year and are still on an upward trend, indicating that more and more people are expressing interest in these assets. Further analysis shows that people have preferred investing in NFTs over Crypto over the past few months.
Although searches for Crypto were higher than for NFTs for most of last year, Crypto searches have started to trend down since November last year. Now, Google Trends shows that there are far more people searching for NFTs than Crypto users .
From a geographic perspective, Singapore, Hong Kong, China, Venezuela and Canada have the most searches for NFTs, according to Google, with the NFT craze sweeping across Asia , not Europe or the US. Meanwhile, Singapore, Slovenia, the Netherlands, Cyprus and Nigeria have the highest Crypto searches.
Although NFT searches are lower than BTC searches, looking at this trend, there are more people searching for NFTs on Google than Ethereum terms. And so are the other top 10 Cryptos by market cap. Since the NFT search volume began to show a continuous upward trend in July last year, the global monthly search volume for BTC has remained relatively unchanged, and the search volume for blockchain and other Crypto-related terms has also remained relatively unchanged.
Over the past few months, NFTs have also become a search term on almost every major social networking site including Twitter, Instagram, and Facebook. Cumulative monthly social media visits increased from 2.6 million in December last year to 35 million currently . This is based on data generated by the Brand24 social media analytics tool. The largest search volume since December last year.
In the case of Crypto, total social media reach and mentions were 25 million and 51,000, respectively, as calculated by the tool. But since December, the number of mentions and the use of the word Crypto on social media has grown linearly. As of December 2021, social media had 1.3 million reach and only 10,000 mentions .
So while searches on social media for both terms are growing rapidly, NFT social media reach has grown at an even faster rate over the past month.
The growth in NFT social media coverage and Google searches also coincided with the increase in NFT sales. Now, monthly sales are up to $3 billion now, up from $1.2 billion a month ago . During the same period, the Crypto market cap has been trending downwards, from $2.2 trillion to its current $1.6 trillion. It seems that people investing in Crypto are also transferring some of their wealth from Crypto to NFTs, which are popular assets.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/google-search-volume-for-nft-exceeds-crypto-nft-market-is-growing/
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