The area of non-fungible tokens is still on the rise. For the first time, global search interest for the term NFT has exceeded that for cryptocurrencies . That comes from a report dated December 23, which relies on data from Google Trends. Not too surprising, given that transactions on OpenSea, the leading Non fungible token marketplace, passed the $ 10 billion mark this year.
According to the report , interest in NFTs is growing as leading companies like Nike and Adidas establish themselves with Non fungible token. Well-known personalities such as the rapper Snoop Dogg and the former First Lady of the USA, Melania Trump, have also started their own Non fungible token projects.
Metaverse games are driving the industry forward
In addition, Non fungible token games like Axie Infinity and Sorare have spurred the industry on. More and more players are using Web3 because they can make money playing. NFTs are also used for charity. In this way, non-profit organizations collect funds, for example for the education of children. US collectors can also save taxes by donating NFTs.
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NFTs have also proven to be a useful tool for artists around the world, as they can share their work with others without having to physically exhibit their art. An Non fungible token platform in Mongolia, for example, enables the country’s citizens to token their history as nomadic horsemen . Although the platform was only launched in September, it already has over 100,000 users.
“Everydays: the First 5000 Days” remains the top Non fungible token of 2021
Although NFTs have soared this year, Beeple’s Everydays: the First 5000 Days remains the most expensive work of the year, having sold for $ 69.3 million at Christie’s auction earlier this year . It is a collage made up of 5,000 digital images. This makes this Non fungible token one of the most expensive works by a living artist.
This news comes after the surge in NFTs this year resulted in the Collins Dictionary naming NFT as word of the year . According to reports, the use of the word NFT has increased 11,000% over the past year.
Alex Beecroft, CEO of Collins Learning, said:
It’s uncommon for an abbreviation to see such a meteoric rise, but the data we have from the Collins Corpus reflects the remarkable rise of NFT in 2021.