Google’s keyword search data shows interest in nonfungible tokens (NFTs) has surged to record levels, with traffic beating out search terms pertinent to many crypto assets ranked among the top ten.
According to Google Trends, interest in NFTs saw a dramatic spike at the start of the year as Dapper Labs’ NBA Top Shot and vintage Ethereum-based NFTs saw frenzied speculation.
While the bubble initially appeared short-lived — with search volume drying up by roughly 75% as of the end of June, interest began to bounce back in July before breaking into new highs at the end of October.
Search volume for “NFT” (blue) and “non-fungible token” (red) over 24 months: Google Trends
Since then, Google search traffic for NFT-related keywords has continued to surge, doubling over the past three months.
The spike in interest has seen “NFT” overtake many of the keywords that have long-dominated crypto-related search traffic, including “DeFi,” “Ethereum” and even “blockchain.”
Search volume for NFT (blue), Ethereum (red), blockchain (yellow), Dogecoin (green), and DeFi (purple) over 24 months: Google Trends
While Dogecoin firmly captured the public’s imagination during the second quarter — with search volume for “Dogecoin” rising to rival “Bitcoin” in early May, dog-token fever quickly subsided in the third quarter. As such, the Google Trends data suggests the momentum behind the canine-coin rally was immediately channeled into the hype for NFTs.