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Asia-Pacific region dominates in digging NFTs on Google

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  • NFTs search volume has agained surpassed cryptocurrency as per Google Trends data
  • Asia-Pacific is the region that dominates in terms of “NFT” query
  • The report has also noted that the biggest amount of searches in the nation come from the eastern province of Zhejiang, the city of Shanghai, and Hubei province

NFTs or Non-Fungible Tokens have gained mainstream attention globally. These digital collectibles have been in a craze since the last few years. However, since the beginning of this year, the industry has witnessed some notable growth, with digital collectibles being sold for millions of dollars. However, recent data from Google Trends revealed that searches for the term “NFT” have again overtaken the term “cryptocurrency”. The recent spike in queries is observed after March 2021. Moreover, the data has also revealed that residents from the Asia-Pacific region appear to be more curious regarding Non-Fungible Tokens.

China made highest number of “NFTs” search query

The data from Google Trends has revealed that the Asia-Pacific region is making more searches for  “NFTs”. The data also shared that China, Singapore, and Hong Kong are the three top nations searching for digital collectibles in the Asia-Pacific region. 

It is observed that China is one of the nations that has posted the highest number of such searches. For China’s searches the Google search index amounted to 100 points. On the other hand, Singapore and Hong Kong have followed China with 67 and 62 points respectively. More specifically, the report has also noted that the biggest amount of searches in the nation come from the eastern province of Zhejiang, the city of Shanghai, and Hubei province, which is also known as the home of Wuhan.

Besides Hong Kong, Singapore, and China, other nations including Venezuela, the Philippines, Cyprus, Canada, New Zealand, Australia, and the United States have also made some significant searches for “NFT”. 

China could be moving into Non-Fungible Tokens

According to the announcement made in late September, China could move into digital collectibles to alleviate the consequences of the nation’s crypto crackdown. According to Khashayas Abbasi, a contributor at Bankless Times, the nation’s recent prohibition of crypto trading could see cryptocurrency investors being eager to move into crypto collectibles industry. 

Furthermore, Abbasi noted that the country’s giant e-Commerce firm, Alibaba, launched its own NFT marketplace this August. Indeed, such measures by the firm would  further fuel the popularity of such tokens in the nation.

Google is technically banned in the nation since the 2010 due the Great Firewall. According to Abbasi, Asian nations are more used as cashless and digital systems than the ones in the western side.

Nigeria is least interested

According to the data from Google Trends, Japan has the highest searches for crypto. However, where the new digital collectibles market has been soaring in terms of popularity, we observed one country with the lowest ratio of  NFT search. Indeed, Nigeria is one of the only nations globally that has a very less search history for NFTs, rather the nation has the highest rates of digital assets in the world. 

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