NFT-Related Searches On Google Explode To New All-Time Highs As Nascent Space Heats Up
Surging interest in non-fungible tokens (NFTs) is being revealed through Google Trends, which recently recorded new all-time highs for terms like “NFT” and “Buy NFTs.”
It’s unclear whether this is a top signal or a foreshadowing of a massive retail-fueled boom in the space, but the analytics are staggering nonetheless.
According to DappRadar, NFT marketplace OpenSea has seen a sudden jump in activity following a few months of relative decline. The platform’s users have doubled and its total transaction volume has tripled since the beginning of November.
OpenSea’s top NFT project over the last week is currently the Bored Ape Yacht Club, which has seen volume of over 15,000 ETH in the last seven days, up 227% from the previous week. The runner-up on OpenSea is the Mutant Ape Yacht Club, with a 346% increase in volume in the same time frame.
The Bored Ape collections received exposure last week when late-night TV host Jimmy Fallon revealed he was a proud owner of one. Speaking with top NFT artist Beeple, Fallon casually replied “yeah” when asked if he owned an Ape. The Bored Ape Yacht Club ranks second all-time as far as total transaction volume, right behind the legendary Crypto Punks.
Crypto data aggregator platform CoinGecko is riding the NFT wave with its new “GeckoCon” conference slated for November 17-19. The event will feature seminars, workshops, presentations, and more from a collection of top industry insiders. The conference will have over 50 sessions and 200 speakers, including music mogul Akon, creator of “Akoin” and the mind behind the ambitious plan to build a new crypto-powered city in his native Senegal.
Bobby Ong, co-founder of CoinGecko said “NFTs are taking the world by storm!” and that the space was an aspect of the blockchain and crypto space that anyone can relate to. Ong is also of the opinion that NFTs will serve as the “bridge for non-crypto natives to start their journey into the cryptoverse.”
NFT-related coins have been one of the top-performing sectors in the crypto space this year. According to CoinGecko, Axie Infinity (AXS) leads the category with a market cap of $9.3 billion. Axie Infinity is a blockchain-based game where players can collect, breed, and battle creatures called “Axies.” After becoming wildly popular in the Philippines, AXS exploded all the way to $160 after opening the year up at around $0.50. Other big names include Theta Network (THERA), Decentraland (MANA) and Flow.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.