Yep, the day finally came where little brother NFT stole the top spot from big bad cryptocurrency. In the past week, Google trends reported that for the first time, more people are searching for NFTs than other mainstream cryptocurrencies. The triumph comes at the end of a remarkable year for the industry- a year that could see the total trading volume soar past $17.7 billion.
The Google Report Proves that the Mainstream Markets are Interested and Ready to Get Involved
Even Bitcoin, the daddy of all things crypto, took some time for the mainstream masses to get on board. Throughout 2021, NFTs have gone from strength to strength, pulling in mind-blowing selling prices and more than a few big names. That said, the entire industry has been somewhat on the sidelines with little to no front-page attention.
Now as the year draws to a close, a sudden just in NFT google searches suggests that is all changing and shows a sudden drop in attention to Bitcoin. Perhaps this jump is a reaction to the recent Bitcoin price plummet, or it could be linked to a number of other recent events.
What May Have Contributed to the Spike?
Let’s face it: it is pretty difficult to ignore something that can sell for almost $70 million, regardless of what it is. Since Beeple’s ‘The First 5000 Days’ surpassed all expectations back in March to sell for a staggering $69.3 million, a lot of people have started paying attention. As more celebrities and people of influence have thrown their hats in the ring, the hype has only grown.
Some of the most notable recent activity that has likely piqued the interest of the general public and turned the spotlight to non-fungible tokens includes:
- Major brands Adidas and Nike have both recently launched mostly successful collections of NFTs as part of their latest marketing campaign. The campaign and collection have the power to cement NFTs in the realm of public awareness.
- Games such as Axe Infinity have recently introduced playable NFTs that users can influence the play through- some even offering chances to earn some money. The gaming community is extremely widespread and has the power to proper NFTs to a whole new level.
- Big-name celebrities are publicizing their love of NFTs, including the iconic rapper Snoop Dogg, who recently revealed that he was the person behind an anonymous user account with millions of dollars worth of NFT investments. Mila Kunis, Quentin Tarantino, and Steve Aoki are amongst the other people who have recently brought attention to the industry.
What Comes Next?
As has always been the case with cryptocurrency and NFTs, what comes next is a bit of a mystery. On one hand, the spike in interest over the last week could signal the beginning of a market boom, with brand new users entering the marketplaces for the very first time. Alternatively, it could be just a Christmas miracle, and the hype could disappear as quickly as Santa Clause himself.
One thing is for sure, though: people know about NFTs, and they are not going away. Curiosity has peaked, and it has the power to change the industry forever. The future now greatly depends on the success of the average person much more than the record-breaking amounts that keep on popping up.
If marketplaces such as Opensea can optimize this opportunity and begin to broaden the community from the inside out, nothing is holding NFTs back from becoming one of America’s favorite investment channels.
Who knows how long NFTs can stay on top? Right now, those of us at the center of the industry and community can revel in seeing others finally appreciate what we have known all along, that non-fungible tokens are a fascinating, unique, and exciting opportunity for all.
It now turns to the NFTs community to be there to support new interests and spread the wealth of information they may have collected so far. NFTs and cryptocurrencies only work because of the loyal and dedicated followings they have built so far, and the long-term success rests on their shoulders.