During Christmas week, global searches for the term “NFT”, which refers to non-fungible tokens, overtook “cryptocurrencies” according to Google Trends. The sharp surge in NFT search traffic is a clear indication that digital collectibles have entered the general consciousness, with trading exceeding $ 10 billion on OpenSea, the most popular decentralized platform for NFT auctions and launches.
The enormous increase in demand for NFT can be seen in almost all areas of society. First, consumer brands like Nike and Adidas are making their own entry into the realm of metaverse NFTs. Then celebrities like Snoop Dog, Grimes, Steve Aoki, Mila Kunis and Melania Trump advertise their own NFT collections in public. Third, NFT games like Axie Infinity and Sorare allow gamers to learn about cryptocurrencies and NFT and, as an added hassle, win a small amount of money while playing video games.
In addition, the proceeds from NFT auctions could also benefit non-profit organizations or charities, such as building a school for children in Uganda. In addition to purchasing beautiful works of art, cryptocurrency holders can also deduct their donations from their normal income in the US to save taxes, resulting in mutual benefit for all. After all, NFTs allow artists around the world to share their talents without the need for physical exhibits. One such example is Mongol NFT, which brings the stories of nomadic horsemen and the history of the steppe to the blockchain.