NFTs
NFTs Almost Dead on Google Trends – TradingView News
Global search interest in non-fungible tokens (NFTs) remains at abysmally low levels despite cryptocurrencies’ continued rally, according to data provided by Google Trends.
The aforementioned term attracted few search queries compared to “crypto” this year. This indicates a cooling in demand for the sector that defined the 2021 high.
In March, the term “crypto” reached a value of 100, indicating a peak in popularity. The term “NFT” paled in comparison to “crypto” with a value of just 10.
The same trend could be observed in May, with NFTs failing to attract any substantial interest despite rising cryptocurrency prices.
This marks a stark contrast to January 2022, when the term “NFT” was actually ahead of “crypto” by a substantial margin (82 and 66, respectively).
Other metrics also confirm that the NFT sector is struggling to recover. According to data provided by AltIndex.com, the number of active wallets containing NFT tokens has fallen to its lowest level since the beginning of 2021. In fact, the NFT space has lost over 90% of users since reaching its current peak in December 2021 .
In 2021, NFTs have attracted a lot of attention from celebrities and large companies, becoming the talk of the town in the investment community. They also allowed creators to monetize their work. However, due to crises in the crypto industry and unfavorable market conditions, such investments quickly lost their charm.
“Web3” is dead
Although NFTs are almost dead, the term “Web3” appears to be completely dead. The term, which gained traction in late 2021 and 2022, fell out of fashion, attracting very few search queries.
“Web3” should become the preferred term for the new iteration of the web with a strong emphasis on decentralization. He couldn’t reach him. In May, it attracted only a small share of search interest compared to crypto.