According to Google Trends, interest in collectible tokens (NFTs) has almost reached the same level as in initial token offerings (ICOs) during their 2017 boom.
Google Trends is a service that tracks the number of search queries for different words, assigning a numerical value to each query that indicates its popularity. Google Trends data gives a rough idea of ​​the world’s interest in various aspects of the cryptocurrency market.
According to Google Trends, published
Unfolded, search engine user interest in non-fungible tokens (NFTs) almost peaked in ICO interest in 2017.
As shown in the graph, the popularity of initial offerings of tokens (ICOs) skyrocketed in the second half of 2017, in parallel with the bullish rally in the price of BTC to $ 20,000. At the same time, the first blockchain games based on NFT gained popularity. The most famous of these is the Cryptokitties. When the cryptocurrency market began to decline in 2018, interest in ICOs and NFTs also declined.
Unique Collectible Tokens (NFTs) have started to gain traction again this year amid a series of high-profile digital art sales and even tweets. For example, earlier this month, the British auction house Christie’s held the first auction with a lot in the form of NFT – a digital painting by the artist Beeple was sold for a record $ 69.3 million and Jack Dorsey’s first tweet sold for 1,500 ETH ($ 2.55 million).
However, the popularity of NFT has not escaped regulators – the Financial Action Task Force on Money Laundering (FATF) has made changes to the draft recommendations for regulating the cryptocurrency industry, mentioning DeFi and NFT.
Recall that the decline in interest in ICOs in 2018 occurred not only against the background of the fall in BTC, but due to the actions of regulators. The Securities and Exchange Commission (SEC) has repeatedly prosecuted companies that raised money through ICOs, accusing them of violating securities laws.
The most high-profile case was the SEC’s lawsuit against Telegram, which ended with Telegram’s surrender last summer. As part of the settlement of claims, the company agreed to pay $ 18.5 million and return $ 1.22 billion to investors to ICO TON investors.
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