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Alongside DeFi, NFTs remain at the frontline of the cryptosphere, causing a widespread hysteria that can only be compared to the ICO boom in 2017. For most of the time, however, NFTs have trailed DeFi in terms of interest, but that has now changed. They have hit stratospheric points of late, and search engine results conform to this.
NFTs Continue To Whet Appetites
An unfolding love affair between art, real estate, collectible enthusiasts, and the metaverse birthed one of the biggest factions of the digital asset space. NFT data aggregator, Non-Fungible reported in 2020 that the industry grew by 300% from the previous year. At the time of the report, the NFT industry was reportedly worth about $250 million.
The growth ever since then has been nothing short of staggering. Enthusiasts have doled out millions of dollars for digital artworks, celebrity NFTs, digitized albums, rare collectibles, and tweets. Yes, tweets…
Many are dumbstruck by the recent craze, wondering why anyone will splurge such mammoth figures on digital items. Perhaps this accounts for the recent surge in NFT searches.
