Non-fungible token (NFT) sales have dropped 23.37 percent in the past week, and they are down 63.10 percent from the same time last month. Even though interest in NFTs has been going down, a recent study shows that Singapore and Hong Kong are the most interested places in the world. The research also shows that “Poland is the country that is most against NFT.” According to the number of searches by country, Axie Infinity is the most-searched NFT project in the world. It is the top search by collection in 112 countries.
Singapore, Hong Kong, and Canada are most interested in NFT, while Poland, Nicaragua, and Belize are most against NFT.
In a new study published by cashnetusa.com, researchers looked at NFT search data in every country in March 2022. They then used the Ahrefs tool to figure out how many monthly searches there were per 1,000,000 people. Also, researchers at cashnetusa.com used the Twitter API and the Snscrape tool to look at tweets that matched the queries “NFT” and “NFTs.” From here, they used the Hugging Face tool, which was made at Cardiff University, to analyze how people felt about the data. Lastly, the team figured out the top 100 NFTs of all time on the Opensea marketplace and used the Ahrefs tool to scrape through the search volumes in each country.
Several interesting findings show how NFTs have changed each country, and researchers point out that Singapore is “the most hungry” for NFTs. The study says that Singapore searches for NFTs more than any other country, with 18,717 searches per million people every month. Researchers say that Montenegro is the most pro-NFT country in the world right now because it got “862 out of 1000 tweets that were positive.” According to the research, Poland is against NFT because “227 of every 1,000 tweets about NFT were found to be negative in tone.”
NFTs from Axie Infinity and Decentraland are the most searched for around the world.
Cashnetusa.com’s report also shows that Axie Infinity, a blockchain-based NFT game, is the most popular NFT project around the world. dappradar.com says that 2,115,063 traders have bought and sold NFTs worth $4.23 billion on the Axie Infinity platform. Based on the number of searches, the study shows that Axie Infinity rules in 112 countries. Decentraland is the second most searched for in 43 countries, and Bored Ape Yacht Club (BAYC) is the most searched for in six countries.
The cashnetusa.com researchers explain, “As a limited-edition collection with a high entry price, the Apes may be making headlines, but the average NFT fan can’t find them by Googling for new purchases.”
Cashnetusa.com’s research also says that NFTs involve a lot of “social, technical, and environmental weirdness” and that the topic can be controversial. “Where money and status lead, people have different ideas. NFTs are controversial because they involve risky investments, scams, fears about the environment, and technology that is hard to understand. People who talk about NFTs fall into two groups: evangelists and skeptics. “The NFT evangelists all have their favorite team, whether it’s the Bored Apes or the Axie monsters,” the report’s author says.