Cryptocurrencies are becoming popular each day for investing & trading in India. Some sources speculate there could be ten crore crypto investors in India, which is a lot more than India’s stock market investors. Recently, Google Trends have shared their data which reveals that, for the first time, global searches for the term “NFT” appear to have overtaken that for “Crypto”. According to Google Trends, a service that tracks the most popular combinations, Google users are searching for ‘NFT’ more than ever, and “crypto” is no longer the most popular search on Google’s search engine.
Cryptocurrency is mainly traded for investments and speculation purposes, but NFTs are also meant for many other causes, like campaigning, personal and company branding, CSR activities, and for supporting artists. Not only investors, companies, or emerging artists but famous Indian celebrities like Amitabh Bachchan and Salman Khan have also launched their NFTs, and fans are paying millions of dollars for getting their ownerships.
Cointelegraph has revealed that, globally, people have spent over $9 billion in NFT sales so far—and total sales are expected to reach $17.7 billion by the end of 2021. The research states that sales of NFTs have grown from $41 million in 2018 to $2.5 billion in the middle of 2021, representing a 60-fold growth in three and a half years.
NFTs are opening up new opportunities for earning as well as investing. NFT is a platform where new artists can also sell their products digitally without investing millions in exhibitions. The shine of NFTs is so bright that Crypto-allergic China is also planning to issue a digital media photo collection through NFTs.
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