The year 2021 has seen more interest in NFTs more than a lot of other things in the world of the Internet, and so much that the word Crypto didn’t find as much interest as the Non-fungible tokens (NFTs) has gained. Data from Google Trends revealed that this is the first time that the global search for NFT has surpassed crypto itself, and this doesn’t come as a surprise.
Google Trends is a service that tracks the most popular searches or combinations that people are searching for, and while Crypto and Cryptocurrency was the most popular term earlier, now NFT has replaced it as the most popular search term on the search engine.
NFTs are digital artifacts that one can sell and purchase, and the buyer retains full proof of ownership as that transaction stays on the blockchain, and even these digital arts are a part of the blockchain itself. It isn’t only artwork, but GIFs, music, videos, that can all be traded on the blockchain as an NFT.
CoinTelegraph recently had reported that people have already spent over $9 billion in NFT sales so far and by the end of the year, it was expected to cross a total sales figure of over $17.7 billion. Within three years, the growth of NFTs in terms of sales has gone 60-fold and this exponential growth is only going to go further high given how there are new entrants into the NFT market.
In India, celebrities from the film industry have jumped onto the NFT scenario by launching their own NFTs, and of the well-known celebs, Amitabh Bachchan had launched his NFTs that included his autographed vintage posters, a recital of his father’s famous poem Madhushala, and these were sold for around $966,000.