Interest in the so-called digital virtual NFTs, which many small investors keep their distance from, continues to increase.
According to Google Trends data last March, there was a huge increase in NFT searches.
NFTs, which continued to rise unabated after March, once again surpassed cryptocurrency searches in Google searches in September.
According to Google Trends data, China, Singapore and Hong Kong ranked in the top three for “NFT” searches on Google last year.
According to the 100-point Google search index, China received 100 points, Singapore 67 and Hong Kong 62 points. Venezuela, Philippines, Cyprus, Canada, New Zealand, Australia and the United States followed these countries in NFT searches, respectively.
Are Bitcoin Bans Effective in NFT Searches in China?
Bankless Times columnist Khashayar Abbasi said he thinks Bitcoin bans in China, the world’s most populous country, have caused an increase in NFT searches.
Noting that China’s e-commerce giant Alibaba has also established its own NFT market:
“China recently banned cryptocurrency trading. This, in turn, may have caused crypto-savvy investors to switch to NFTs. Alibaba’s entry into the NFT market has contributed to the growing popularity of this industry in China.”
Abbasi also stated that it can be expected that it will be easier for Asian countries to adopt NFTs as they are more used to cashless and digital payment systems compared to western countries.
Although the NFT craze continues unabated, Binance CEO CZ, who created his own NFT market, said in an interview that he thinks the value of some NFTs will be zero.