Over the past seven days, non-fungible token (NFT) sales have declined 23.37%, and 30-day statistics show that NFT sales are down 63.10% month over month.Interest in NFTs wanes Meanwhile, a recent survey shows that global regions such as Singapore and Hong Kong are leading the way in interest in NFTs. In addition, the survey suggests that “Poland is the most NFT-negative country.” According to search volume by country, the most searched NFT project in the world is Axie Infinity, which commands 112 countries in terms of top searches by collection.
Singapore, Hong Kong, and Canada are most interested in NFT – Poland, Nicaragua, and Belize are the countries most opposed to NFT
According to a new studypublished by cashnetusa.com, researchers looked at NFT search data for each country in March 2022 and used the Ahrefs tool to calculate the number of searches per million people per month. Additionally, researchers at cashnetusa.com utilized the Twitter API and the Snscrape tool to look at tweets matching the queries “NFT” and “NFTs”. From here they used a tool developed by Cardiff University calledHugging Face, a tool called “Hugging Face” to analyze the sentiment of the data, which was then used to identify the most relevant tweets and to identify the most likely reasons for the tweets. Finally, they calculated the top 100 NFTs of all time in the Onpensea marketplace and used the Ahrefs tool to look at specific search volumes for each country.
There are a number of interesting findings on how NFT has impacted countries, with researchers highlighting that Singapore is “the hungriest” for NFT.” Singapore searches for NFT more than any other country, with 18,717 searches per million population per month,” the study details. The researchers explain that Montenegro is now considered the most pro-NFT country in the world, capturing “862 out of 1,000 tweets that prove to be positive.” The European country of Poland is anti-NFT, according to the survey, with “227 out of 1,000 tweets with NFT themes found to be negative in sentiment.”
Axie Infinity and Decentraland NFT lead in global search
Cashnetusa.com report also shows that blockchain NFT game Axie Infinity is the most popular NFT project by country worldwide; Axie Infinity, according todappradar.comNFT sales of $4.23 billion among 2,155,063 traders. According to the study, Accie Infinity dominates 112 countries in terms of search volume; Decentraland is the second most searched in 43 countries, while Bored Ape Yacht Club (BAYC) captures six countries.
“As a limited edition collection at a steep entry price, monkeys may be headline news – but they are not at the fingertips of the average NFT enthusiast when googling for new acquisitions,” the cashnetusa.com researcher elaborated.
The Cashnetusa.com study emphasizes that the NFT includes “social, technological, and environmental oddities” that could make the subject controversial. The study says, “With money and prestige comes divided opinion, and the NFT’s detractors are divided into “evangelists” and “skeptics” because of the investment, fraud, environmental issues, and technical intractability of the NFT, and the NFT’s detractors are divided into two groups: evangelists and skeptics. And among NFT evangelists, allegiance is owed to boring monkeys and axey monsters,” the report’s authors conclude.
Image credits: Shutterstock, Pixabay, Wiki Commons, Cashnetusa.com Research image