Google Searches for ‘NFT’ Outrun ‘Crypto’ As Asia Dominates Action

nftcrypto

In a sign that nonfungible tokens are picking up serious mojo despite market angst, Google searches for the term “NFT”are now firmly ahead of ‘crypto’ and “Ethereum”, according to Google Trends.

The term “Bitcoin” continues to lead all comers. NFTs flipped crypto for the first time on other leading terms on Dec. 25 and have seen a surge in interest on the back of China’s plans to build NFT infrastructure, albeit with no cryptocurrency links.

Indeed, Asian countries comprise six of the top ten sources of search traffic.

As Google is banned in China, we can safely infer that at least some of the searches routed through Hong Kong and Taiwan may be coming from the mainland.

This comes as no surprise, as Chinese investors have been active in the NFT space since the early days of the boom, and many collectors have become influential figures in the community. 

One example is 9x9x9, the founder of Club721 and OpenDAO, which recently airdropped its $SOS token to active NFT traders.

NFT collections by Asian artists and those based on anime themes are currently some of the best performers on OpenSea.

Azuki, a collection of 10,000 avatars, topped the weekly chart with a floor price of 7 ETH ($17K) and over 40K ETH ($90M) in trading volume. Azuki #3491 changed hands for 150 ETH ($360K) on Jan. 26.

CloneX, the collaboration between Nike-owned RTFKT and Japanese artist Takashi Murakami, continues its ascent with a current floor price of 8.69 ETH ($21K).

Capsule House, a collection of 10K gachapon NFTs, has seen its floor price rise to 4 ETH from under 0.5 ETH at the start of the year.

Disclosure: The author holds Capsule House NFTs

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