'NFT' search volume on Google hits all-time high as platform user count nears 400K

The Google search volume for the term "NFT" -- short for non-fungible token -- has reached an all-time high, according to data collected by The Block Research. 

Search volumes are relative between 0 to 100, with 100 being the maximum value from a defined time period. The Google search volume hit 100 for the week starting March 8. That figure grew from a rating of 15 in mid-February to 64 by early March. 

As The Block has recently reported, the NFT market has seen a significant increase in activity, particularly from celebrities, sports, and companies.

The NFT space has witnessed the emergence of promising new projects like Hashmasks as well as artists, old and new, minting their pieces (and selling for big checks). 

This increase in interest is further evidenced by the number of weekly users of NFT platforms, which reached an all-time high of 398,800 users for the week starting March 8. Crypto-collectible marketplace NBA Top Shot made up the majority of the total with 379,000 users, followed by Ethereum-based NFT game Axie Infinity with 12,260 users. 

The weekly trade volume of NFTs has shown a higher degree of volatility, not quite lining up with the above data.

This volume hit an all-time high in the last week of February with a total of $196.35 million traded. NBA Top Shot accounted for $125 million, while NFT marketplace CryptoPunks accounted for $62.67 million.