Google is the marker of all new developments in the world. If a search query is showing high volumes on Google, it means many people want to know more about it. With NFTs, we can see a similar trend. NFTs have been the buzzword of the crypto world for quite some time now. On top of that, NFTs have successfully introduced cryptocurrency to many artists and digital creators. The effects of this NFT frenzy are now showing on Google search rankings. It is not surprising at all, considering the sales volume carried out through NFTs and the mainstream media’s interest in it.
In the last three months, the number of people searching for either ‘NFTs’ or ‘non-fungible tokens’ has increased by more than two times.
Google search data shows that now more people are looking up NFTs than Ethereum or Bitcoin. NFTs have the potential to completely alter the way we view art and preservation of culture, but the shroud of a bubble burst looms over it. Leading entrepreneurs like Gary Vaynerchuk have predicted an NFT crash, and such a crash would leave more than 90% of all NFTs in existence worthless. However, data shows that a potential crash does not seem to be happening anytime soon. Many people also argue against the possibility of such a crash. Since NFTs are both artistic assets and financial assets, a crash in the NFT market would not resemble a stock market or cryptocurrency market crash. As of now, findings from Google search data are fuelling optimism in the NFT sector.