Google is easily the most popular search engine that has ever made its way to the world wide web. The search engine is so popular that its name isn’t just a name, it’s been adopted as a verb in the United States and around the world.
If you don’t know the answer to a question, what do you do? Google it!
Well, due to Google’s popularity, and their willingness to share data, marketers have been using it as a tool to see just what people are into. After all, if online searches for a specific term spike, that term is experiencing high levels of popularity.
So, what’s hot these days? NFTs!
Google Search Data Shows Growing Interest In NFTs
There’s no question that NFTs are overwhelmingly popular. After all, Universal Music Group announced the coming launch of the supergroup KINGSHIP, a group made up of three Bored Ape Yacht Club NFTs and one Mutant Ape Yacht Club NFT. At the same time, Timbaland recently announced that he’s launching a label specifically for NFT musicians in the metaverse.
However, musicians aren’t the only people bringing NFT awareness to the masses.
Even big brands like Visa, MasterCard, McDonald’s and a long list of massive corporations have announced launches of their own collections, along with sport teams, the entire NBA… you get it, the list goes on and on.
As NFT adoption continues to skyrocket among major brands, celebrities, and sports stars, more and more consumers are starting to dive in. That fact becomes no more apparent than when you look at search data from Google for the term, “NFT.”
Thanks Google Trends for the chart above!
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The chart above shows search data for two terms, NFTs in blue and non-fungible tokens in red. The chart shows search volume trends in both these searches over the past 24 months, and as you can see, the trend is clear. Consumers want to know what non-fungible tokens are.
As you can see from the data, NFTs saw a dramatic jump in interest at the beginning of the year. The timing coincided perfectly with the announcement by Dapper Labs that it would be launching NBA Top Shot, an NFT collection of National Basketball Association stars that has garnered quite a bit of attention.
However, that bubble in interest in the beginning of 2021 didn’t last long. By June, about three quarters of the search volume for the term had disappeared. Nonetheless, the trend is ticking to record highs as we speak.
In fact, over the past three months, search volume for anything having to do with NFTs has been spiking, so much in fact that interest in the term NFT has overtaken major cryptocurrency related search terms like “DeFi,” “Ethereum,” and “blockchain.”
Thanks again for the data above Google Trends!
Not only have searches for NFTs and non-fungible tokens overtaken terms like DeFi, blockchain, and Ethereum, they’ve drowned them, commanding three to four times the average search volume of the other terms.
What This Data Tells Us
The obvious answer is the fact that NFT popularity is skyrocketing. However, to an analytical type like myself, the data goes far further than the popularity of these digital assets. Here are three things the data make obvious:
- Growth in Searches Is Becoming More Steady. Early on in the world of non-fungible tokens, popularity inched up, as is the case with many new products. Even as recent as earlier this year, search volume was relatively sporadic. However, what we’re seeing in recent months is steady growth, which suggests we’re talking about much more than a simple passing fad.
- Major Brands Play a Huge Role in Growth. If you look at the peaks in search terms on the chart, and search for industry news on the dates the big spikes take place, you’ll find that major brands like the NBA, Timbaland, and Universal Music making announcements about their entrance into the metaverse plays a significant role in consumer interest.
- Digital Ownership Matters. Several big names have driven interest into NFTs, but when you talk to consumers, you’ll find that they see the concept of real digital ownership of something of extreme value. This value is likely driving much of the growth we’re seeing as well.
The Bottom Line
The bottom line here is simple. NFTs are here to stay and consumers are loving the trend. No matter if you’re getting your data from Google’s search trends, social media, or any other source, it’s becoming more and more clear that these tokens are setting the stage for the way of the future!