NFTs Google search queries briefly takeovers Crypto

The craze for NFT’s continues in 2022. Last year, we reported the rise of Non-Fungible Tokens and user interest in NFTs over cryptos. Since then, Google search trends seems to have displaced cryptos briefly over the past couple of months.

The highest ever ranking achieved by NFTs 77, against Cryptos 62 was on Jan 16. Currently, as of writing this blog, NFTs maintains a 46 to 43 ratio. Interestingly, search queries for NFTs from Taiwan takes the lead, followed by Japan, South Korea, Turkey and Venezuela respectively.

Surprisingly, the “interest for crypto” search queries have rather new entrants. What previously used to be dominated by giant countries have rather small but developed nations i.e; Netherlands, Belgium, Ireland, France, Slovenia.

In the related Google search queries for Crypto, Shiba Inu occupies all the top 3 positions for image search category. We have evidently seen that meme coins are really popular amongst social media users. Shiba Inu by far outweighs other meme coins in user interest for the last 12 months. However for NFT searches, Bored Apes wins the race.

What are NFTs?

NFTs are different kinds of assets as compared to their crypto counterparts. NFT means Non Fungible Tokens meaning that they are not interchangeable with one another. As it stores unique data on a digital ledger that uses blockchain technology.

Read: How NFT works, a short explainer

NFTs have taken the web by storm ever since it picked up momentum. Many celebrities, big brands like Walmart, Adidas and individuals have made fortunes with NFTs so far. Gary Vaynerchuck a famous motivational speaker and vocal NFT supporter said to have made $90 million in 90 days.

NFTs and Environment

The environmental impact of technology is nothing new. But NFTs are getting quiet a beating. Primarily, because artists were always considered the core of social movements because of their sensitivities towards their surroundings.

NFTs are said to be leaving a remarkable amount of carbon footprint. According to Computer Scientist Memo Akten’s research a total of 35 kWh of electricity was consumed by NFTs in 2020. Other studies have even calculated more.

Do you think NFTs will continue to rise? Let us know in the comments.

Read Similar posts: What are NFTs and how do they work? NFTs Explained

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