Non-fungible tokens are digital representations of any physical or virtual asset — art, images, songs, videos, real estate — that are verified through blockchain technology.
NFTs are bought and sold online, frequently with cryptocurrency.
The market for NFTs is proliferating. Investors are active with startups in the sector.
A report from data provider CB Insights titled “State Of Blockchain Global 2021” addresses the dramatic funding growth of NFTs, increasing 130 times over 2020 levels to $4.8 billion.
According to the data, in Q4 2021, funding and deals to NFT companies hit record highs.
Asia and Europe gained ground on the United States in Q4 2021 in terms of NFT deals share.
Data from Google Trends disclosed how frequently people worldwide searched for the keyword “NFT.” Consumers in Asia were most interested in NFTs. Singapore ranked the highest worldwide at 100. Others include China at 85, the US at 49, the UK at 37, Germany at 37, and Australia at 20. Saudi Arabia had the lowest at 8, although many countries had no score.