JAKARTA – In the last week leading up to Christmas, global searches for the term "NFT," which refers to non-fungible tokens, have surpassed "crypto," according to Google Trends.
The sharp increase in search traffic for NFT offers a clear indication that digital collections have entered mainstream consciousness, with transactions on OpenSea, the most popular decentralized platform for NFT auctions and declines, already exceeding 10 billion US dollars.
According to Cointelegraph, the huge increase in the demand for NFT is seen in almost all aspects of society. First, consumer brands like Nike and Adidas are making their own entry into the realm of the NFT metaverse.
Later, celebrities such as Snoop Dog, Grimes, Steve Aoki, Mila Kunis, and Melania Trump promoted their own NFT collections to the public.
Third, NFT games like Axie Infinity and Sorare allow players to learn about crypto and NFT, as well as earn a little money as a side job while playing video games.
In addition, the proceeds from the NFT auction can also be used for non-profit or charitable organizations, such as building a school for children in Uganda. Not only can crypto holders get great work of art but in the United States, they can also reduce their contribution towards their ordinary income to save taxes, resulting in a win-win solution for all.
Lastly, NFT allows artists around the world to broadcast their talent without the need for a physical exhibition. One such example is Mongol NFT, which brings stories of nomadic horsemen and steppe history to the blockchain.
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