October 1, 2023

NFT-Illustration mit Regenbogen

Who is still interested in digital artwork?

Cats, Monkeys, Bad Guys, or Collateral: NFTs come in all kinds of colors and shapes. They sprout from different industries as mushrooms in the fall. However, like the crypto sector in general, the digital art business has suffered from a dip in activity since the beginning of the year.

Still, big tech companies on the US West Coast are still convinced by NFTs: Meta, among others, recently got serious and is now expanding its NFT pilot project from Instagram to Facebook. But what about the interest in non-fungible tokens?

in a new one study The lending company CashNetUSA conducted a survey of global searches for NFTs. Below is an excerpt from the results.

Europe: interest in NFTs mainly in the North

If you look at searches per million inhabitants of Europe, the northern half of the continent stands out. According to the study, Iceland ranks first in the NFT ranking by interest with 11,194 searches.

Scandinavia is doing well, too: Norway can shine with 8,031 searches per million inhabitants. But there is also interest on the other side of the English Channel: 8,336 searches per million inhabitants come from the UK, and 7,388 from Ireland.

Germany can be found in the lower center line. With 3,125 search queries per million inhabitants, the Federal Republic is not in last place, with Moldova occupying only 811. However, Switzerland is said to have more than twice as many search queries as Germany.

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Where do NFTs meet with approval?

One thing is how interested an area is in NFTs in general. An entirely different question is whether a country is positive or negative about NFTs.

As part of the Twitter analysis, CashNetUSA examined which tweets were more positive or negative related to NFTs.

Digital artworks seem to be the least popular in Poland in particular: with 227 negative tweets per 1,000 NFT tweets, the Eastern European country ranks first among countries that, according to the analysis, don’t say good words about NFTs.

Although interest in researching NFTs is relatively high in Ireland, NFTs do not resonate here either: 101 tweets for every 1,000 NFT tweets from Ireland have negative connotations, the results say.

Meanwhile, Montenegro seems to have taken a different direction. 876 tweets per 1,000 positive NFT tweets. It is also said that Bosnia and Herzegovina speaks in a high tone of irreplaceable symbols (788).

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CashNetUSA collected the data in March 2022. Using the Ahrefs tool, the company searched for the term “NFT” for each country and calculated the results for each million inhabitants. Using the Twitter API and Snscrape, they searched for tweets with “NFTs” and “NFTs” and used the Hugging Face tool to determine if a tweet was positive or negative. The sum is considered negative if the probability is greater than 0.5 that it will be negative. Countries with fewer than 50 tweets were excluded from the statistics.