SME interest in NFTs spikes by almost 1,000%

Interest in non-fungible tokens among the UK’s SMEs has risen almost 1,000%.

The Small Business Needs Index, compiled by Fiverr, provides an overview of trending services based on the largest percentage increase in over 1.8 million searches over the past six months on its freelance platform.

The results showed interest in non-fungible tokens isn’t confined to big corporations, with businesses looking to leverage Web3 for digital goods and services, gamification marketing and immersive experiences.

NFT-related skills saw a 902% increase, while game development was up 91%, pixel art rose by 76% and YouTube editing grew 66%.

“We have seen a number of multinational companies, including the likes of Nike, Adidas, Budweiser and McDonalds, make their first forays into the metaverse this year,” said Peggy De Lange, VP of international expansion at Fiverr. 

“These findings show that the impact is not confined to big business, with small businesses hot on their heels and lots of bottom up innovation happening at the same time. It is encouraging to see UK small businesses exploring new avenues to stay competitive.”